The average Chinese retail speculator is basically just an American with even easier access to leverage, as shown by last week's gold implosion. Bloomberg has choice quotes.

Rookie Trader’s Rapid 84% Wipeout Shows Depth of China Gold Bust
https://www.bloomberg.com/news/articles/2026-02-02/rookie-trader-s-rapid-84-wipeout-shows-depth-of-china-gold-bust