China state fund pours US$41bil into stock market in Q1, reports show

SHANGHAI: Chinese state fund Central Huijin Investment bought blue-chips worth at least $41 billion in the first quarter in a bid to shore up the sliding stock market, funds' latest quarterly reports show.

The sovereign fund bought at least 300 billion yuan ($41.42 billion) of exchanged-traded funds (ETFs) in the first quarter, including Huatai-PB CSI300 ETF, E Fund CSI300 Index ETF, Harvest CSI 300 ETF, ChinaAMC CSI 300 ETF and ChinaAMC China 50 ETF, the ETFs' reports show.