China's stock-market crash in 2015 followed a dramatic rise in the Shanghai Composite Index.
The Shanghai Composite more than doubled from its mid-2014 level to a seven-year high of 5,178.19 on June 12, 2015. The surge was fueled by abundant margin lending and strong participation by individual investors. Many buyers borrowed to purchase shares, increasing both gains during the boom and losses during the decline.
The index then fell sharply, losing roughly one-third of its value in about a month. Chinese authorities responded with measures including trading halts, restrictions on some share sales, and support intended to stabilize prices. The turbulence continued into 2016, when global markets were also affected by concerns about China's economy and commodity demand.
The episode is often described as Chinese stock-market turbulence rather than a single isolated crash. It differed from the 2008 crisis because China’s banking system and capital account were more heavily managed, limiting some channels of international contagion.