China's gov't has been buying $2.5b/day in equity ETFs since July to try and prop up market after AI slump. What's wild is China typically only sees about $218m/day in ETF flows = the govt is 10x the average. It would be like if the US Treasury bought $100b/day in ETFs here. Great note on the 'natty team' today from @RebeccaSin_SK @JackiWang17 on BI ETF<GO>.