China’s stock exchanges and ‘Millionaire Yang’ mark 30 years of pride, fascination with Communist-style capitalism

//China’s stock exchanges and ‘Millionaire Yang’ mark 30 years of pride, fascination with Communist-style capitalism

China’s stock exchanges and ‘Millionaire Yang’ mark 30 years of pride, fascination with Communist-style capitalism

Yang Huaiding was an unknown 40-year-old warehouse keeper at a Shanghai steel factory earning 51 yuan (US$7.80) a month in 1990. Today, he is fondly known as “Millionaire Yang” in the folklore of China’s stock market.The Shanghai native made his first million from dabbling in the initial batch of eight stocks soon after the local bourse came into operation in December of that year, prompting him to devote himself to full-time trading.“You could say the stock market offered me a new career path,…

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By | 2020-12-19T02:00:11+00:00 December 19th, 2020|Business|Comments Off on China’s stock exchanges and ‘Millionaire Yang’ mark 30 years of pride, fascination with Communist-style capitalism