China's Illusory Retail Investor Class

The heartwarming story of everyday workers making millions in mainland stocks is a myth. State-owned and private enterprises are doing the buying

If there is a warm heart beneath the cold, hard cash that dominates the rise of China's stock markets, it is the retail investor. These are the old ladies, young mothers and overworked taxi drivers who felt the squeeze of a four-year bear market but can now smile at the Shanghai Composite Index reaching record highs.

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