China state fund pours $41b in Q1 to boost sagging stock market

China state fund pours $41b in Q1 to boost sagging stock market

FILE PHOTO: An electronic board shows Shanghai and Shenzhen stock indices at the Lujiazui financial district in Shanghai, China, March 17, 2023. REUTERS/Aly Song/File Photo

Chinese state fund Central Huijin Investment bought blue-chips worth at least $41 billion in the first quarter in a bid to shore up the sliding stock market, funds’ latest quarterly reports show.