Which Chinese stock exchange was at the center of the 2015 stock-market crash in mainland China?

The Shanghai Stock Exchange was at the center of the 2015 stock-market crash in mainland China.

Chinese share prices rose rapidly in the year before the crash, helped by retail investor participation, margin financing, and expectations of continued economic growth. The Shanghai Composite Index reached a 2015 closing high of 5,178.19 on June 12. It then fell sharply, with authorities introducing measures intended to support prices and limit panic.

The turbulence affected both the Shanghai and Shenzhen markets, so describing Shanghai as the center does not mean it was the only exchange involved. The Shanghai Composite became the most widely cited benchmark for the episode and fell substantially from its June high.

This event is sometimes confused with China’s 2015 currency-market turmoil or with the 2016 circuit-breaker episode. Those were related periods of financial stress but distinct developments. The crash also showed how leverage and concentrated retail speculation could amplify a market decline.