SHANGHAI: Wen Wu, a government employee of Loudi in Central China's Hunan province, has lost nearly all of his 240,000 yuan savings in the stock market. He now has just 7,000 yuan left in his account.

Welcome to the club of growing millions who have seen their hard-earned savings vanish into thin air in the market meltdown.

A recent survey by the official Shanghai Securities News and Stock Star showed that over 60 percent of the 25,110 respondents had lost nearly 70 percent of the money they invested in the Chinese stock market. Only 6 percent of the respondents said they had made money in the past year.