China's retail investors have a case of deep pockets and heavy hands as they are skipping out on the sharp rally in stocks since COVID protocols were lifted, despite being flush with savings accumulated during the pandemic years. The dismantling of three years of China's stringent zero-COVID policy has revived bets on a swift economic recovery and driven the stock market up 13% in three months. But retail investors are haunted by the regulatory purges, volatility and losses since 2021. With 212 million retail investors, equal to Brazil's population, the conservatism of China's retail army has implications for the viability…