Which 2015 Chinese market crash led regulators to suspend trading in many Shanghai and Shenzhen shares?

The 2015–2016 Chinese stock-market turbulence led regulators to suspend trading in many Shanghai and Shenzhen shares.

Chinese equities had risen dramatically in the year before June 2015, supported by margin borrowing and strong retail-investor participation. After the Shanghai Composite peaked on June 12, 2015, prices fell rapidly. The government responded with measures including trading halts, restrictions on some share sales, and intervention by state-linked funds.

A second sharp wave arrived in early 2016. China introduced circuit breakers intended to pause trading after large market moves, but the mechanism was triggered quickly on January 4 and January 7 and was then suspended. These events damaged confidence in the policy response.

The episode is often called a single crash, but it consisted of several connected sell-offs from mid-2015 into early 2016. It also differed from the 2008 global crisis because China’s turbulence centered on domestic equity valuations, leverage, and market regulation.