At a stock trading hall for retail investors near People’s Square in Shanghai, the mood is glum.
Shenyin Wanguo, like other Chinese brokerages, maintains its hall for investors to hang around, make a few trades and share tips. Among the mostly elderly investors, zest for market speculation goes hand-in-hand with the socialist conviction that the government can and should protect them from risk.
“Even I, an old party member, don’t believe the regulators any more,” says Ms Xu, a 76-year-old retiree.
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