China’s ‘national team’ battles AI stock rollercoaster

The "national team" of Chinese state-backed funds came into public view on July 19, about a week before memory chip maker CXMT’s initial public offering. (Nikkei montage/Source photos by Getty Images and Reuters) SHANGHAI — Concerns over AI valuations have rocked China's stock market in recent weeks, posing a major test for Beijing's efforts to engineer a steady upward trend, known as a "long bull."

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