The "national team" of investors the Chinese government lets loose on the stockmarket has a new entrant - the State Administration of Foreign Exchange.
- SAFE (State Administration of Foreign Exchange) is China's foreign-exchange regulator and a unit of the PBOC
- A fund (Wutongshu Investment Platform Co.) owned by SAFE has been buying stakes in some of Chin's biggest banks and brokerages: Bank of China, Shanghai Pudong Development Bank, Bank of Communications, Industrial and Commercial Bank of China Ltd.,
- Wutongshu & two subsidiaries bought shares valued at more than 27 billion yuan (US$4.2 billion) during Q4
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Report in Shanghai Securities News (via WSJ - may be gated)
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The "national team" is said to be a group of state entities that buy Chinese stocks ... often big blue chips at times when the market tanks
- Two key members are China Securities Finance Corp (a lender owned by China's securities regulator) & Central Huijin Investment (domestic investment arm of China's sovereign-wealth fund
- Goldman Sachs estimates those two spent a combined 1.8 trillion yuan on share purchases between June and November 2015