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China’s national team steps in with buybacks to calm A-share swings
BNY said regulators held an investor symposium and state-backed funds injected about ¥60 billion via stock buyback re-lending facilities.
BNY analysts highlighted how China’s regulators and state-backed funds moved to stabilize A-share volatility after global tech deleveraging and profit-taking spilled into domestic markets.
According to the analysis, the China Securities Regulatory Commission held an investor symposium, a signal of stronger supervision, investor protection, and a commitment to stable market operations.
BNY said the so-called national team injected roughly ¥60 billion through stock buyback re-lending facilities, with centrally administered state firms buying shares across sectors including SOEs, technology companies, and ETFs.
The note added that institutional flows into Chinese equities have been recovering, and it flagged a shift in retail behavior from clear selling earlier in April to strong purchases in mid-June, though it said confidence still depends on stronger domestic growth.