[jyl]

Chinese government seems to be treating the domestic stock market decline as a challenge to its authority/power.

Using open and blatant manipulation to try and stop the decline - prohibiting IPOs, short selling, and now any selling by large holders or company management; suspending trading in over half of domestic stocks; pumping public money into direct purchases of stocks; persuading brokers and large investors to buy stocks and stop loaning stock; cutting rates on margin loans.

China is trying to enjoy the benefits of free markets, without actually permitting markets to be free, I question how well that will work.