China has a rural population of 1 billion, which could have been excluded because there is not much money; There are individuals, enterprises and other institutions that have opened more than 1 million accounts in the stock account with the highest official data in the city, but these people should still buy funds, but there are more ordinary people who buy funds. Many fund companies implement the differential fund system, that is, they use part of the funds raised by their own funds to buy funds issued by others to preserve value and spread risks, so the final conclusion is that the actual participants will not exceed 4 million, because not everyone in the city buys stocks and funds.