"Following a period of extreme volatility beginning in May 2015, Chinese stocks began experiencing an extraordinary fall. In the weeks since its June 12 peak, China's main exchange, the Shanghai Composite, was down 25 percent (see Figure 1), while Shenzhen, the smaller, tech-dominated exchange, was down 35 percent. Since the two exchanges started their slide, investors lost about $3.5 trillion, equal to China's total market capitalization in 2012.2 This collapse challenges the government's credibility and commitment to reform."
United States. Economic and Security Review Commission: http://www.uscc.gov/