China’s ‘National Team’ Buys $9 Billion in Shares to Stabilize Market

State-owned funds announced stock purchases worth $9 billion last week, stepping in after a sharp sell-off in AI technology shares rattled Chinese markets. The move, led by state-backed entities often called the “national team,” aims to boost investor confidence and prevent further declines. The purchases targeted major indexes, including blue-chip stocks, signaling government support for the market. Analysts say the intervention is a direct response to volatility driven by global tech stock losses and domestic economic concerns.