When contacted by the Financial Times, the China Securities Regulatory Commission refused to answer any questions.

The amusing comment of the day comes from Zhu Ning, deputy dean at Shanghai Advanced Institute of Finance: "If [the government] does nothing then all its previous efforts will have been wasted but if they continue with the rescue efforts then the hole will get bigger and bigger. We hope the regulators will respect the market and the rules of the market."

In reality, previous efforts were wasted the moment they were tried. Price discovery is now lacking, and that is a huge problem in and of itself.