This Article concludes by taking a step back and briefly considering what this examination of institutional investors tells us about China's unique form of capitalism and system of corporate governance. It suggests that the rise of institutional investors in China has been strategically developed in a way to reinforce the CCP's ultimate control over the financial system. However, contrary to what some conceptions of" state capitalism" may suggest, the CCP does not micro-manage institutional investors on a day-to-day basis. Rather, institutional investors normally function according to free-market forces and increasingly perform an important corporate governance role with the CCP using its policy channeling in a targeted way to stabilize the market in times of crisis, execute important legal and market reforms, and to maintain calm in society during critical political events: what this Article termed as the" market within the state" for institutional investors in China.