What I wonder is, why IB did/does not try to enter this market. (Shanghai and Shenzen Stock and offering accounts to chinese clients). Overheated or not - this will be a HUGE deal in the future. Regulatory, it is probably next to impossible, but not totally impossible after all.
I feel a lot of pity for the ordinary folks who are just jumping on the bandwagon. It's shades of 2000 nasdaq all over again. When the fairy tale ends -- and it will, eventually -- things will get very very ugly. Many a life savings will be lost.