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About 100 mln Chinese become stock holders
Latest Updated by 2007-05-18 10:09:14
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About 300,000 Chinese people have opened an account in the stock market since late April. Information from the China Securities Depository and Clearing Corporation shows that on May 14, the number of new stock holders that had opened an account in the stock market reached 500,000. So far, the total number of account holders in Shanghai and Shenzhen stock markets reached 96.71 million, almost hitting the 100-million mark.

It is found that most new stock holders are young people and some are old people. Although everybody knows that there are risks involved in stock buying and media constantly remind people to be fully aware of such risks, still many people are eager to plunge into the stock market prompted by the large gains brought by a bullish market. As a result, the total number of stock holders in China nearly hit 100 million. The number of new stock holders that opened an account during the past four months this year was already three times the number of new stock holders that opened an account in the whole of last year.

The soaring number of new stock holders has been prompted not only by the bullish stock market, it is also resultant from the fact that currently, Chinese people still have relatively few means to manage their assets. At present, the savings interest rate in banks has fallen below inflation rate. So people actually will lose money if they put their money in banks. Treasury bonds bring higher yields compared with bank savings. However, on the one hand, there are a limited number of treasury bonds issued and their scale is not very large. On the other, the excellent performance of bullish market is certain to prompt everyone to plunge in.

Related statistics show that in April alone, the total capital in the A-share market reached 980 billion yuan, while at the same time, about 250 billion yuan of new capital flowed into the A-share market. One-third of this new capital came from institutions and the rest (about 160 billion yuan) all came from individual investors.
 
Editor: Yan

By: Source: chinanews.cn
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