Hong Kong — 

The global artificial intelligence boom that has helped sustain Chinese economic momentum this year still can’t offset its domestic woes, particularly in its stock market.

Since peaking in June, key Chinese indexes have fallen more than 20%, crossing the threshold for a bear market. Beijing responded last week by pumping $19 billion into exchange-traded funds, according to Bloomberg data, its biggest intervention since early 2025, when US President Donald Trump’s tariff offensive roiled global markets.

But analysts say interventions like this may do little to arrest the persistent slide, amid weak…