China's State-Backed 'National Team' Buys $9 Billion in Shares to Stabilize Equity Markets

China's state-backed "national team" — entities like Central Huijin and China Securities Finance — purchased roughly $9 billion in shares to stabilize onshore equity markets, per reporting dated July 20, 2026. The buying injects price-insensitive demand, suppressing short-term volatility. Against a multi-trillion-dollar market cap, the signal that Beijing will defend a price floor may matter more than the cash itself.