China’s largest city begins organizing the mysterious fund market

The market regulator in Shanghai, China’s most populous city and the country’s economic capital, recently issued regulations to regulate the shadow fund market.

Mysterious or blind chests provide a random element when opened, and are very popular with young people.

According to the city’s market regulator, the price of the mysterious box will be set at no more than 200 yuan (about $31.5), citing the Chinese “Xinhua” agency.

The regulation also states that sellers must not sell these boxes to children under the age of eight, or over-market and speculate.

Sources from shadow fund company Popmart have expressed support for the regulations, and said the company will work with the regulator to explore possible detailed programs.

The new move comes after the China Consumers Association recently issued a statement noting that the new package of fast food chain KFC, in which it offered limited edition gift boxes, caused an irrational and excessive purchase of food.

The association said this sales strategy violated public order, good customs and the spirit of the law.

Over the past year, mysterious chests containing NFT tokens, unique data stored in a digital ledger that are non-fungible and can be sold, have proliferated, and buyers are willing to pay a fixed price for the box without knowing its contents until they open it.