China’s state-backed “national team” funds came into public view on July 19, about a week before memory chip maker CXMT’s initial public offering, according to a Nikkei report published August 10, 2026. The article highlights that trading in Asia-focused tech ETFs has drawn record inflows as Beijing pledges stability. The report connects the national team’s visible activity to the period surrounding CXMT’s IPO, amid what it describes as an AI stock rollercoaster. No further specifics on fund amounts, trading volumes, or policy details were included in the provided text.