Based on the sample of the non-tradable shares transfer and restricted shares transfer, the paper analyzes the tunneling before and after the non-tradable share reform.
This is the way most Chinese fresh graduates are living, usually they share apartment with friends, and manage every single expenditure carefully. Obviously their consumption ability is restricted.
If the investment account was not restricted, I could buy TRE-T 19000 shares at $1.33 a share. The price had more than doubled already, and with giant potential of increasing.