Chinese Stock Market Turmoil: Netizens Demand Action and Stabilization Fund

The recent turmoil in the Chinese stock market has left many investors frustrated and weary of the lack of concrete action from the government. Amidst the crisis, experts are coming forward, suggesting that the time has come for the government to deploy its stabilization fund, known as "平准基金" (Pingzhun Jijin). However, many social media users are skeptical, questioning whether the fund exists at all.

According to a recent tweet, an expert from Tsinghua University, the author of the phrase "专家称平准基金已到入场时" (Zhuanjia Chen Pingzhun Jijin Yi Dao Ru Changshi), pointed out that the core issue behind the market's instability is the lack of stability and confidence in the economy and the stock market. The expert added that restoring confidence would be a long-term process, and it cannot be achieved merely through policy measures.

Despite the continued market turmoil, social media has been rife with threads questioning the effectiveness of the stabilization fund and its existence. One user stated, "还拿平准基金说事？到底有没有平准基金都是两码事！还有人信吗？我就问你们还信吗？" (Hai Nua Pingzhun Jijin Shu Shi? Dao Dian You Mei You Pingzhun Jijin Dou Shi Liang Ma Shi! Hai You Ren Xin Ma? Wo Jiu Wen Ni Men Hai Xin Ma?), implying that the fund may be nothing more than a myth.

Another user criticized the government's delay in putting the fund to use, stating, "不能进场的原因是不是突然发现平准基金不见了，被某些人转移到国外？" (Bu Neng Chang Jing De Yuan Yin Shi Bu Shun Que Fa Xian Pingzhun Jijin Mei Jian, Bei Mou Xie Ren Zhui Die Dao Guo Wa?), suggesting that the fund may have been misappropriated for personal gains.

As the stock market continues to plummet, with the Shanghai index losing 2700 points and over 5000 stocks dropping, calls for the stabilization fund to be put to use have intensified. However, the government's reluctance to act has not gone unnoticed by netizens, with one user stating, "关键专家说的没用呀，钱啥时候到账，到账了啥时候买，这才是重点。" (Jian Guan Zhuanjia Shuo De Mei You Ya, Qian [money] Shen Me Shi Hou Dao Zhuang, Dao Zhuang Liao Shen Me Shi Hou Maai, Zhe Cai Shi Zhuan Dian.), highlighting the importance of implementing concrete actions rather than relying on expert opinions.

The social media backlash against the government's lack of action, in conjunction with the calls for the stabilization fund to be utilized, has left many questioning the effectiveness of the Chinese government's response to the stock market crisis. As the crisis continues to unfold, it remains to be seen whether the government will heed the cries of its citizens and take decisive action to restore stability and confidence to the market.