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Local governments including Beijing step in to bail out listed firms amid market downturn

Last updated on October 30, 2018

Chinese stock selloff intensifies on Thursday and the benchmark Shanghai Composite broke through the critical psychological line of 2500 to hit a new low in four years. That makes the index more than 30 per per cent lower than its January high, leaving investors wondering: where is the national team which stepped in buy stocks, as a way to prop up the market in the previous downturns.

This time around, it seems that Chinese government is taking a different approach . . .

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