China deploys 'national team' funds to halt market rout, but investor confidence stays elusive
State intervention days before Fifth Plenum fails to reassure markets, particularly in AI and tech sectors
Beijing has deployed billions of dollars from its network of state-owned 'national team' funds to intervene in the Chinese stock market, attempting to arrest a weekslong rout that has pushed shares into bear territory. The intervention, occurring just days before the Communist Party's Fifth Plenum, has helped stabilise prices but has failed to restore investor confidence, especially in the tech and AI sectors President Xi Jinping has championed as the future of the economy.