有迹象表明，中国基准股指创下的10周连跌纪录已促使国家支持的基金加大在市场上的存在。
Signs are emerging that a record 10-week losing streak for China’s benchmark stock index has prompted state-backed funds to step up their presence in the market.
根据彭博社编制的数据，上周，所谓国家队青睐的一篮子交易所交易基金的资金流入激增至自7月以来的最高水平。虽然目前尚无官方确认国家基金正在增加买入，但资金流入的规模和时机让许多市场参与者相信，北京正寻求支撑市场。
Inflows into a basket of exchange-traded funds favored by the so-called National Team last week surged to the highest since July, according to data compiled by Bloomberg. While there’s no official confirmation that state funds are boosting purchases, the size and timing of the flows have many market participants convinced that Beijing is looking to support the market.
中国证券公司分析师（包括姚子伟）指出，最新的买入行为具有大型机构逆市而为的特征。他们在一份报告中称，上周持续出现大额资金流入，这些资金集中在领先的宽基ETF中，且临近收盘时交易更为活跃，这些是造成这种情况的原因。
The latest buying bears the hallmarks of large institutions moving against the market’s decline, according to China Securities Co. analysts including Yao Ziwei. They cited persistent large inflows last week, their concentration in leading broad-based ETFs and heavier trading near the close as reasons in a note.
基准CSI 300指数在截至周五的五个交易日内下跌3.4%，使其连跌纪录延伸至前所未有的10周。周一该指数上涨0.3%，因为数据显示中国第三季度经济增长超出预期。尽管较6月峰值仍下跌约17%，但该指数正在逼近技术性熊市。
The benchmark CSI 300 Index slumped 3.4% in the five sessions through Friday, extending its losing run to an unprecedented 10 weeks. It was up 0.3% on Monday as data showed China’s growth accelerated more than expected in the third quarter. Still down about 17% from a June peak, the index is approaching a technical bear market.
中国企业已成为全球人工智能贸易放缓的最大受害者，这对北京利用股市推动其技术雄心的努力构成挫折。纳斯达克式的星50指数在今年上半年暴跌近40%，成为全球表现最差的主要科技指标。
Chinese firms have emerged as the biggest losers of the faltering global AI trade, a setback for Beijing’s efforts to use stock markets to supercharge its ambition of technological supremacy. The Nasdaq-style Star 50 Index has tumbled nearly 40% in the current half year, becoming the world’s worst-performing major tech gauge.
今年7月，北京启动了近年来最广泛的一项举措之一，以稳定股市。监管机构、国家支持的投资者、保险公司和资产管理公司均采取行动，在科技股抛售后提振市场信心。
Beijing in July mounted one of its broadest efforts in years to steady the stock market, with regulators, state-backed investors, insurers and asset managers all moving to shore up confidence after a selloff in tech shares.
国家队青睐的一只蓝筹ETF在周四录得创纪录的资金流入，当时全球科技股抛售波及中国市场。
One of the national team’s favorite blue-chip ETFs drew a record inflow on Thursday, when a global tech selloff spilled into China’s market.
“最新的大规模资金流入为机构在A股弱势时建仓提供了良好机遇，同时也有助于恢复投资者信心、稳定市场预期，”中国证券报的分析师写道。
“The latest influx of large-scale funds provides a good opportunity for major institutions to build positions in A-shares on weakness, while also helping restore investor confidence and stabilize market expectations,” the China Securities’ analysts wrote.