China's share markets hit their peak value before the 2008 global financial crisis and have stayed well below that level since. A lack of gains in share prices, along with falling housing prices, has discouraged Chinese families from spending,

State-owned insurers and mutual funds are expected to play a pivotal role in the process, the China Securities Regulatory Commission and the Ministry of Finance said in a press briefing.

Beijing is seeing diminishing returns on repeated attempts to reinvigorate the market, as investors worry about harder-to-control economic fundamentals, like weak consumer spending and the prolonged property crunch.