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China tech

Beware of bubble, China central bank tells sneakerheads

Smartphone trading apps help fuel high-end shoe mania

Washington Huskies forward Dominic Green wears Air Jordan Pinnacle 6 sneakers. High-end sneakers have become a hot commodity in China.   © Reuters

GUANGZHOU -- Young Chinese are trading high-end sneakers like stocks with the help of new, convenient smartphone apps, pushing the market to speculative levels, with prices trending far above original retail price tags. 

The sneaker mania has authorities worried, prompting the central bank to warn young traders of the danger of pouring too much money into the overheating market.

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