Taming the Flood

How China’s Leaders “Guide” Public Opinion

In August 1975, Typhoon Nina, one of the most powerful tropical storms on record, surged inland from the Taiwan Strait, causing floods so catastrophic they overwhelmed dam networks around the city of Zhumadian in China’s Henan province. When Banqiao Dam on the Ru River finally burst, it unleashed a wall of water that rushed downstream, claiming an estimated 230,000 lives. Look back through China’s press at the time, however, and it is as though this unfathomable tragedy never occurred.

How Beijing Intervened to Save China’s Stocks

Securities Regulator, Central Bank Rallied Around Market After Investors Fled

Top executives from 21 securities firms spent the morning of Saturday July 4 pinned to government office chairs while the future of China’s stock markets hung in the balance.

They’d been summoned on a day off to the Beijing office of the China Securities Regulatory Commission (CSRC) for talks aimed at pulling the Shanghai and Shenzhen stock exchanges out of a three-week tailspin.