Which 2015 crash began with a sharp fall in Chinese shares after the Shanghai Composite had surged?

The 2015 crash that began with a sharp fall in Chinese shares after the Shanghai Composite had surged was the 2015 Chinese stock-market crash.

Chinese mainland equities rose dramatically between mid-2014 and June 2015, supported by retail investor enthusiasm, margin borrowing, and expectations about economic reform. The Shanghai Composite reached 5,178.19 on June 12, 2015. Prices then fell rapidly, and forced selling by investors using borrowed money intensified the decline.

Chinese authorities responded with measures including trading suspensions, restrictions on some share sales, and efforts to support liquidity. The turbulence spread through international markets because investors were concerned about China’s growth, commodity demand, and the effects of official intervention. The episode is sometimes confused with the separate 2015–2016 global market sell-off, which also reflected concerns about oil prices and worldwide growth. The Chinese crash specifically refers to the collapse in mainland share prices and the policy response surrounding it.