Mutual funds, which invest in stocks and are hard to redeem, saw their smallest inflows in a decade last year. Money-market funds, which can be sold instantly, grew from 8.1 trn yuan in 2020 to 12.3 trn in July... Retail investors’ hitherto growing interest in stocks, bonds and investment funds, which the government had hoped would reduce Chinese savers’ fixation with property, has reversed.
~ “Disrupting dreams: Markets are pummeling China’s well-to-do,” The Economist, March 2, 2024
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