China Unleashes $483 Billion to Stem the Market Rout (THE REAL CHINESE ESF IS BORN!)

``China has created what amounts to a state-run margin trader with $483 billion of firepower, its latest effort to end a stock-market rout that threatens to drag down economic growth and erode confidence in President Xi Jinping's government... While it's unclear how much CSF will ultimately deploy into China's $6.6 trillion equity market, the financing is up to 25 times bigger than the support fund started by Chinese brokerages earlier this month.''