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China stocks draw record foreign buying in reopening rally

January purchases of mainland shares eclipse 2022 on post-COVID recovery bets

People taking photos at the Beijing Stock Exchange. Mainland China markets are rising on hopes of a recovery in the world's No. 2 economy.   © Reuters

HONG KONG -- Foreign investors are racing back into mainland Chinese markets with a 141.2 billion yuan ($20.9 billion) net purchase of shares in January that eclipsed buying for all of last year.

The wave of buying -- spurred by fears of missing out on a reopening rally as Beijing dropped its growth-sapping zero-COVID policy -- was also the biggest net monthly investment via a mainland-Hong Kong trading link since its launch in 2014,according to financial data provider Wind.

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