Which 2015 Chinese market crash followed a rapid rise in mainland share prices and a wave of forced selling?

The 2015 Chinese market crash that followed a rapid rise in mainland share prices and a wave of forced selling was the 2015–2016 Chinese stock-market turbulence.

Shanghai and Shenzhen shares had surged during the first half of 2015, attracting many retail investors and substantial margin borrowing. The Shanghai Composite Index peaked on June 12, 2015, then fell sharply as leveraged investors received margin calls and sold holdings. Chinese authorities responded with measures including trading suspensions, restrictions on some sales, and efforts to support prices.

The turbulence returned in early 2016. On January 4, 2016, China’s newly introduced circuit-breaker mechanism halted trading after a large decline; the mechanism was abandoned after only a few trading days because it was widely blamed for worsening selling pressure.

The episode is not the same as China’s 2015 currency devaluation, although both occurred during a period of concern about slowing Chinese growth and global demand.