Sneakers are now a form of investment for the younger generation

Forget stocks, real estate, even cryptocurrencies – the hottest investment nowadays, especially in China, may be basketball shoes.

Enthusiasts worldwide have fuelled an expanding bubble in high-priced sneakers, often limited-edition collaborations between big names in sportswear and fashion, rappers or athletes.

But in China the craze is at fever pitch, with devotees driving soaring trading volumes on online “sneaker exchange” platforms, prompting warnings from authorities about dangerous speculation as resale profits approach 5,000%.