China's 'National Team' Steps In to Prop Up Markets as AI Stock Rollercoaster Rolls On
AI news brief: China’s ’national team’ has deployed state-backed funds to intervene in the stock market, as concerns over AI stock valuations rattled Chinese equities in recent weeks, posing a major test for Beijing’s push to build a stable, steady uptrend (the so-called ‘slow bull market’). This national team money publicly surfaced around July 19, roughly a week before memory chipmaker CXMT’s IPO. Meanwhile, tech-focused ETFs have pulled in record inflows, reflecting the market’s continued bet that official stabilization pledges can hold up prices even as AI valuation worries intensify.