The middle of the summer turned out to be really hot for the Chinese stock market. China’s July stock surge lured the biggest intake of new investors in five years.
According to the estimates provided by the China Securities Depository and Clearing (CSDC), the number of new investors opening brokerage accounts reached 2.43 million in July. Analysts emphasize that it is the highest reading in the last two years. The number of traders that entered the market soared by 56.6% compared to the beginning of the year.
Notably, almost all investors were individual traders amounting to around 2.42 million. At the same time, the number of new institutional investors remained 3.9 thousand.
Data released by the CSDC showed that at the end of July, new A-share trading accounts advanced to 170 million. A-shares are domestic shares because they use the Chinese renminbi (RMB) for valuation.
