China's 'National Team' Buys $9 Billion to Stabilize Stocks

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