Proving that Chinese investors continue to be overwhelmingly optimistic about their stock markets, sales of mutual funds hit a record high on Tuesday, People’s Daily reports—and for good reason. The Shanghai Composite Index, which rose 130% in 2006, is already up 27.6% this year.

And as an indication of Chinese investors’ unbridled enthusiasm, two recently launched mutual funds in China netted billions of dollars within days of their launch. China International Fund Management’s new fund took in $11.7 billion and Harvest Fund Management’s new fund reaped $5.4 billion.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.