Chinese stockmarket - currently "Chinese roulette"?

There seems to be only one thing crazier (and more "hyped"?) than the current reported GDP growth of China: China's, resp. Shanghai's stock market.

While reported GDP growth in 2006 was 10.7%, the Shanghai Composite has surged some 62% since the start of 2007 alone. Sustainable? Yeeeeah, sure... A sign supporting Alan Greenspans remarks from last week, that it might be about time to get out of the market now (to get in (since prospects in the long-term are still decent) at way lower price later on) is, IMHO, this piece of info that I just read in the Financial Times:

Share trading accounts in China hit 100m

By Geoff Dyer in Shanghai

Published: May 29 2007 21:56 | Last updated: May 29 2007 21:56

The number of share trading accounts established in China now exceeds 100m as the country’s retail investors continue to ignore warnings about the risks of a stock market bubble and continue to put new money into the market.

The surge in the interest to buy shares among China’s population has accelerated over the past few days, with 385,000 new accounts being opened on Monday alone, taking the total to 100.27m, according to China Securities Depositary and Clearing Corporation. In the previous week, around 1.5m new accounts were opened. [...] Read on

385'000 new accounts!? Might that be close to Switzerlands total existing amount of trading accounts? Wicket! Greed is drawing lots of laymen into the market! Get out!!

China, finance, stock market, economy