China's retail investors, numbering approximately 220 million and holding US$20.8 trillion in savings, are facing a challenging market environment as stock prices decline, reminiscent of the 2015 market turmoil. The ongoing property crisis and low interest rates have left these investors with limited options. Meanwhile, China's bond market is experiencing a record-breaking rally, raising questions about whether the People's Bank of China (PBOC) will intervene to curb speculation or allow the market to continue its upward trend to stimulate the economy. The situation is prompting investors to reassess their strategies, with some suggesting that Chinese stocks might soon represent significant buying opportunities as bond yields drop.