This is crazy stuff.
In an effort to preserve a bubble, the Chinese government is relying on loosening margin trading, direct buying, lowering reserve ratios, and opening pension funds.
This will not end well.
I'm really concerned about the pension funds. All foreign actors will remove their money from the Chinese markets, and the pension funds will be forced to buy up a lot of it, i'm sure. This is going to be the opposite of hedging your position, and if something goes wrong, people will lose their pensions.
I hope that this won't cause civil unrest in China.