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Chinanews, Shanghai, March 7 – On the early morning of March 6 (about 5:00), many people queued in front of quite a lot of banks in Shanghai to buy the shares of a newly released fund, though the banks would not start their business before 9:00 am.
The booming stock market in China has made funds popular among the general public. The fund released on March 6 issued a total of 10 billion yuan, and its quota1 in Shanghai were sold out within minutes. Many people had queued for hours, but were unable to buy any shares at all. “Only very few people in China invest their money on funds, especially compared with developed countries,” said an experienced stock investor2. He doesn't think there are any bubbles in the Chinese economy. “Every stock market has its bubbles, and I believe the rapid economic development in China will support its stock market,” concluded he.
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