China wants ordinary Americans to bet on the mainland's stock markets. Yet the products on offer are a risky bet on the world's second-largest economy

.For the first time, China is allowing exchange-traded funds that hold shares in Shanghai and Shenzhen to trade in the U.S.. Bosera Asset Management, along with Krane Funds Advisors, and Harvest Fund Management, along with Deutsche Asset & Wealth Management, are now launching ETFs on the New York Stock Exchange. NYX +0.15% Similar ETFs already exist in Hong Kong.