Which 2015 Chinese stock-market crash followed a sharp rise in Shanghai Composite Index shares?

The 2015 Chinese stock-market crash followed a sharp rise in shares and became known as the 2015–2016 Chinese stock market turbulence.

China’s mainland equity markets rose steeply from mid-2014 into June 2015, attracting many retail investors and substantial margin borrowing. The Shanghai Composite Index reached a high of 5,178.19 on June 12, 2015, before falling sharply over the following weeks.

Authorities responded with measures including trading suspensions, restrictions on some sales, support for share purchases, and investigations of market activity. The turmoil resumed in early 2016, when large falls triggered newly introduced circuit breakers that were quickly abandoned.

This episode is distinct from the 1997 Asian financial crisis: China’s 2015 turmoil centred on domestic equity valuations and policy responses, whereas the earlier regional crisis involved currencies, foreign-currency debt, and banking systems across several economies.