China Stock Rally Draws 4.9 Million Retail Accounts in January

China’s stock rally in January drew a rush of momentum-chasing traders, prompting a surge in new account openings.

New individual investor accounts rose to 4.9 million last month, according to Shanghai Stock Exchange data. That’s the highest since 6.8 million accounts opened in October 2024 — a nine‑year peak at the time — following Beijing’s stimulus measures that fueled a rally not seen in decades.