After China's stock market started crashing earlier this summer, its government responded, in part, by having a giant state-backed financial institution buy shares and support prices. (It also handed loads of money to large brokerages so that they could buy buy buy when everyone else wanted to sell sell sell.) But after a while, Beijing pulled back. Authorities said announced that they would ease up once "volatility" declined. Then the purchases seemed to stop altogether. And prices promptly tanked again.
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