Why are the Chinese rushing to the casino stock market?

They call the Chinese stock market a “casino”, but they rush there. They are betting that the government really wants to finally crawl out of the hole it dug. They speculate, seek short-term gains, and experience intense anxiety.

Beijing’s flurry of policy measures in recent weeks aimed at boosting the domestic economy has prompted China’s middle class to invest more in stocks, leading to the country’s biggest rally since 2008.

In recent interviews, investors said taking action, even putting their savings into a risky market, gives them a sense of control when their country seems to be losing its way. They worry that the government is doing more to stimulate the market than to help the economy, but for now they are clinging to a familiar sense of deflationary fun.

“We are all ‘garlic onions’ being harvested by our ruler,” said Wang, a Beijing resident who said he invested more than $150,000. He referred to an online meme that says the Chinese are vegetables waiting to be pulled out of the ground. “But if I take the initiative to participate in the market, I will at least have some control over my destiny,” he said.

Mr. Wang was one of 10 Chinese investors I interviewed last week, some via video and others via email and text messaging. They are all professionals or business owners. They have money to invest, but they are not very rich.

They all spoke on the condition that I would only use their last names for fear of retribution. The government has censored articles and comments critical of its recent measures, which some say do more to promote a market rally than an economic revival.