Which 2015 crash saw China’s Shanghai Composite Index fall by about one-third in one month?

The 2015 crash in which China’s Shanghai Composite Index fell by about one-third in one month was the Chinese stock-market crash.

China’s equity market had risen rapidly during late 2014 and the first half of 2015, supported by strong retail participation, margin borrowing, and expectations of continued economic growth. The Shanghai Composite peaked in June 2015 before beginning a steep decline.

From June 12 to July 8, 2015, the index lost roughly one-third of its value. Chinese authorities responded with measures including trading suspensions, restrictions on some selling, support for purchases, and investigations of market activity. Volatility returned in August and early 2016.

The episode is sometimes mistaken for a single-day crash, but it was a prolonged period of turbulence. It also differed from China’s later 2020 market reaction to the COVID-19 pandemic. The 2015–2016 turmoil highlighted the risks of leverage, crowded trades, and rapid shifts in investor sentiment.