Formed in response to a market crash in 2015, the so called “national team” of Chinese state-backed investors recently poured $17 billion into index-tracking funds.

Despite the formation of this national team, analysts and investors say propping up the market with cash can’t be sustained and won’t provide a lasting turnaround.

The property sector remains weak and a weight on consumer and investor confidence makes stabilising China’s market a monumental task.

The objective is also giant: mainland stocks are worth nearly $9 trillion.

“This effect may resemble the outcome observed during the 2015 boom-and-bust cycle,” said Dennis Yang, Professor of Business Administration at the University of Virginia Darden School of Business.