Don't think so. The stock market is always the last thing to concern for China government. The most important 3 things are growth rate, housing market & inflation now. Many bulls think the hot money from overseas with flow into stock market, but now it looks the government intends to lock them in the banks.
Exactly. The 'speed' of GDP growth, or more specifically the export-oriented manufacturing, housing & infrastructure industries, hire a lot of migrant workers and are important to uphold the employment, which is seen as a pillar of social stability.