Which 2015 Chinese market crash followed the bursting of a stock-market bubble centered on the Shanghai Stock Exchange?

The 2015–2016 Chinese stock market turbulence followed the bursting of a stock-market bubble centered on the Shanghai Stock Exchange.

Chinese share prices rose rapidly from mid-2014 into June 2015. The boom drew many retail investors, and margin financing allowed people to buy shares with borrowed money. After the Shanghai Composite reached a peak on June 12, 2015, prices began falling sharply.

Authorities responded with measures including trading suspensions, restrictions on some selling, support purchases, and investigations of market activity. The intervention itself became part of the debate because suspended shares and administrative controls affected normal price discovery. A further global sell-off occurred in August 2015 and again at the start of 2016.

The episode was not identical to China’s later property-sector problems. It was primarily an equity-market and leverage shock, although concerns about China’s economic growth and currency policy influenced international markets.