Chinese investors’ enthusiasm for stocks and mutual funds continues unabated despite recent market volatility, the Xinhua News Agency reports. On the first trading day that First State Cinda Fund Management introduced a new mutual fund, the fund took in its full sales quota of 9 billion yuan, or $1.1 billion.

It is one of five new funds that Chinese authorities are launching this year, which are expected to take in $6.5 billion in assets. There are an additional 30 funds awaiting approval.

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