China's "national team" owns at least 6 per cent of the mainland stock market as a result of the massive state-sponsored rescue effort this year to prop up share prices following the summer equity market crash.
One member of the team, China Securities Finance Corp, the main conduit for the injection of government funds, owned 742 different stocks at the end of September, up from only two at the end of June.
CSF was one of a number of government rescue funds that were corralled into buying shares when stock markets went into meltdown over the summer. The intervention succeeded in shoring up prices, with the Shanghai Composite index now up 28 per cent from its low point in late August.
The two state financial institutions that led the bailout increased their ownership of the Shanghai and Shenzhen exchanges from 4.6 per cent of total tradeable A-share market capitalisation at the end of June to 5.6 per cent three months later, according to Wind, a financial database.