Two state-backed firms bought Chinese stocks for about 60 billion yuan (US$8.86 billion) to stem a decline in equities, in a clear sign of government intervention amid market turbulence. China Reform Holdings spent more than 50 billion yuan buying mainland-listed stocks, it said in a statement on Sunday night, adding that it would continue to increase holdings of companies owned by the central government. Meanwhile, China Chengtong Holdings Group said in a separate statement that it bought...