Published: 2:15pm, 7 Jul, 2015 Updated: 2:16pm, 2 Sep, 2016
Haitong Securities has agreed to invest up to RMB 15bn ( $ 2.42bn ) in buying stocks ( blue - chip ETFs ) in mainland China 's equity market , to assist the regulators and central bank in their efforts to stabilise the market , which had fallen nearly 30 % in three weeks ; Haitong 's investment is separate to the agreement it had earlier entered into , in which several Chinese securities firms committed $ 120bn ( $ 19.3mn ) towards buying stocks to stabilise the market . However , they have so far not seemed to have reacted positively to Haitong 's moves ; its stock was down 9.24 % overnight , after having fallen 10 % on Monday .