December 2nd, following the announcement by Central Huijin Investment Ltd. on October 23rd to purchase exchange-traded funds (ETFs), another state-owned fund has taken action. On December 1st, China Reform Holdings Corporation Limited issued a notice stating that its subsidiary, China Reform Investment Co., Ltd., increased its holdings of the CSI State-Owned Enterprises Technology Leading Index ETF and the CSI State-Owned Enterprises Innovation-Driven Index ETF on the same day and will continue to increase holdings in the future. In response to this, Liu Jipeng, Dean of Capital Finance Research Institute at China University of Political Science and Law, stated that this move is another strategic move after Central Huijin Investment Ltd.’s repurchase of shares from four major state-owned banks and purchase of ETF products in October. It indicates that under the background of implementing decisions made during the Politburo meeting on July 24th, state-owned enterprises are repeatedly attempting to boost market confidence and activate stock markets. Liu Jipeng pointed out that although the stock market is still hovering around 3000 points currently, it can be seen from various events such as the Central Financial Work Conference, documents released by National Security Department, and meetings held by China Securities Regulatory Commission that the central government’s determination is very firm – they must lift up the overall market index.