Goldman Estimates China's Government Support In Market At RMB 2 Trillion

China has been sharply criticized in certain free market circles for its rather overt influence used to curb selling in its stock market. Now Goldman Sachs report out Tuesday has put specific numbers on how much the “national team” in the Chinese government has used to its support domestic stocks.

Goldman: During June to July period nearly RMB 900 billion in Chinese support purchasing stocks

Goldman Sachs analysts Chenjie Liu, Timothy Moe and Jack Wang, estimate that during the June through July period the Chinese government, which it terms “the national team,” potentially spent RBM 860 to 900 billion (close to $1.4 billion) to prop up the stock market. During that...