China’s Big Stock Market Rally Is Being fueled by High-School Dropouts: Survey

  • The survey was conducted at the end of 2014, headed by Professor Li Gan of Southwestern University of Finance and Economics, Bloomberg reports.
  • Covers some 4,000 households across the country
  • Finds that the biggest new investors in China’s equity markets have below a high school education and relatively low levels of asset ownership
  • More than two thirds of new equity investors exited the education system by middle school – which in China means around the age of 15
  • More than 30 percent exited at age 12 or below
  • Household wealth for new investors is about half the level of existing investors
  • The new survey data adds to the impression of a rally fueled by inexperienced retail investors. 

Read full story at Bloomberg

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