Which 2015–2016 market crisis followed a rapid rise and then collapse in China's Shanghai Composite Index?

The 2015–2016 crisis following a rapid rise and collapse in China’s Shanghai Composite Index was Chinese stock market turbulence.

Chinese share prices rose dramatically from mid-2014 into June 2015, helped by increased retail participation, margin financing, and expectations of continued economic growth. The Shanghai Composite reached a high of 5,178.19 on June 12, 2015. It then fell sharply, creating losses and severe volatility across mainland Chinese markets.

The Chinese government responded with measures including trading restrictions, support for state-linked purchases, and changes affecting initial public offerings and short selling. The market remained unstable into early 2016, when another sharp decline contributed to global market anxiety.

This episode is not the same as the 1997 Asian financial crisis, which began with pressure on Thailand’s baht and spread across several economies. It is also distinct from China’s later property and debt problems. The turbulence centered specifically on mainland Chinese equity markets and their rapid reversal.