China is taking 10 huge actions to save its stock market

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from CNN,

The Chinese government has launched a “patriotic fight” to save its stock market.

For China, this isn’t just a financial crisis, it’s a political one. That’s why the Chinese government is doing everything it can to try to stop the bleeding.

China’s main stock markets are in meltdown mode. Since June 12, the Shanghai Composite has lost an unnerving 32%.

On Wednesday, China’s Securities Finance Corporation — known as CSF — announced that it will lend billions to big Chinese brokerage firms so they can buy more stocks. The goal is to purchase enough shares that stock prices stop plunging.

A spokesperson for the China Securities Regulatory Commission called the bloodbath in Chinese stocks an “irrational sell-off,” but some called China’s markets a bubble this spring. The country’s economy is also slowing.

Buying stocks is just one effort China is taking. Here’s a full rundown of the government’s extraordinary efforts in recent days:

1. The government is essentially buying stock:
2. China is even buying small stocks:
3. New stimulus:
4. More government spending:
5. Over half of China’s stocks have stopped trading:

6. Big shareholders can’t sell for 6 months:
7. No more IPOs (for now):
8. Central Bank slashed rates:
9. Chinese investors can use their homes as collateral:
10. Devaluing the yuan:

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