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在线翻译:
szdaily -> Business/Markets -> 
National team is buying, not selling: regulator
    2018-10-31  08:53    Shenzhen Daily

THE securities regulator said the market misinterpreted recent news about five State-backed funds liquidating their stock holdings, assuring investors that “relevant institutions” have actually increased their positions.

The rare government comments about China’s “national team” of State investors, delivered in a brief statement on the China Securities Regulatory Commission’s website late Monday, follow a US$3.2 trillion selloff in local shares.

Traders were left guessing over the government’s intentions to support the market last week after news that five funds linked to the government had sold all their holdings of equities and bonds in the third quarter of the year.

The funds’ quarterly reports didn’t explain why they sold, or whether the transactions signaled a withdrawal of government support for the market.

Some analysts have speculated that the government redistributed money from the liquidated funds to other parts of the market. Sources said that China’s State investors have been buying stocks in a targeted fashion over the past week.

The five funds in question were all set up in the summer of 2015 with money from China Securities Finance Corp., and their purpose was to purchase stocks to staunch a market rout, according to local media. Quarterly filings last week showed the funds held no stocks as of Sept. 30.

While China’s government plowed billions of dollars into shares three years ago, authorities have this time taken a more measured approach, focusing primarily on helping cash-strapped companies gain access to financing.(SD-Agencies)

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