China's National Team injects $57 billion into local equities ETFs
By
Huan Mingwei
1 min read
⚠️ Heads up: this article is from our "experimental era" — a beautiful mess of enthusiasm ✨, caffeine ☕, and user-submitted chaos 🤹. We kept it because it’s part of our journey 🛤️ (and hey, everyone has awkward teenage years 😅).
China’s 'national team' of major state-backed financial services companies has injected Rmb410bn ($57bn) into local equities exchange traded funds (ETFs) this year to stabilize the stock market. Analysts at UBS estimated that ETFs tracking the CSI 300 Index accounted for over 75% of the inflows, with potential for further increase. The 'national team' participants include Central Huijin Investment, part of China’s $1.2tn sovereign wealth fund China Investment Corporation, which is supporting the beleaguered stock market. This investment follows Chinese state policymakers’ market-boosting measures to shore up the struggling $9.7tn stock market.