China curbs IPOs, enlists brokers in all-out bid to end market rout

BEIJING/SHANGHAI: Beijing intensified efforts at the weekend to pull China's stock markets out of a nose-dive that is threatening the world's second-largest economy, with top brokerages pledging to buy massive amounts of shares and a report that the government has set up a market stabilisation fund.

Beijing has also suspended new share offers in an attempt to take pressure off the market after a 30 percent plunge in three weeks, the Wall Street Journal said.