China's state-run funds have stepped in to shore up stock prices amid speculation that the rout in the capital markets has got the attention of the nation's top leader, as regulators struggled to overcome "uber-weak" confidence among global investors. The funds, often dubbed the "National Team," have bought 70 billion yuan (US$9.8 billion) worth of local shares over the past month, according to an estimate by Goldman Sachs. State-owned companies and the central bank are among the likely players,
China’s big five state-owned banks lowered deposit rates for the first time this year on Thursday, but top officials offered little clues on the opening day of the Lujiazui Forum.
The China Securities Regulatory Commission (CSRC) will resolutely crack down on insider trading and market manipulation amid recent volatility in China s stock market, a senior government official said on Thursday.