China’s so-called “national team” of state-owned investment funds has stepped in to prop up the stock market, but investors remain skeptical that the intervention will succeed. President Xi Jinping has convened senior leaders to chart the government’s agenda, yet the economy appears likely to take a back seat to political priorities. The market rout continues despite the patriotic buying effort, underscoring deepening uncertainty about China’s economic outlook.
Source: New York Times Business · Summarized by HeadlinesBriefing