“CSF’s silence on its strategy means the full picture is unclear. The agency is, however, leaving behind a few clues. Thanks to Chinese disclosure rules for large shareholders, exchange filings reveal the stocks in which CSF has built a major stake.  The disclosures show a preference for large-cap companies, and a particular affinity for railway shares. Outside that industry, CSF has positions in health care, food and technology stocks. The agency may also be investing through intermediaries, with the state-run China Securities Journal reporting last week that it plowed the equivalent of $32 billion into mutual funds.”

http://www.bloomberg.com/news/articles/2015-08-09/here-s-what-china-s-rescue-fund-is-buying-to-end-the-stocks-rout

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