Chinese Stock Market Rises with Global Trends, Shanghai Composite Index Still Over 2,000 Points Below Historical Peak
While the Chinese stock market has risen in line with global trends, the Shanghai Composite Index remains more than 2,000 points below its historical peak from 2007. The report covers the market's ups and downs under Xi Jinping's administration and the government's rescue measures since September 2024.
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- 📰 Published: May 4, 2026 at 23:10
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Central News Agency
(Central News Agency, Taipei 4th) China's stock market, the second largest in the world by market capitalization, has experienced significant fluctuations since Xi Jinping took office as General Secretary of the Communist Party of China in November 2012. The Shanghai Composite Index soared from less than 2,000 points to 5,178 points within a year, then plummeted by half in just over six months, followed by an 8.5-year period of sideways trading. It was not until September 2024, after the CPC Central Committee introduced a series of market rescue measures, that the Shanghai Composite Index broke out of its consolidation and resumed its bull run, closing at a phase high of 4,112 points at the end of April this year.
The historical high of the Shanghai Composite Index was 6,124.04 points on October 16, 2007, during the administration of former CPC General Secretary Hu Jintao, which was also known as the largest 'bull market' in the history of China's capital market.
The reasons for China's 'bull market' in 2007 were mainly related to factors such as equity split reform, the economy being in a double-digit high growth phase, intensive listings of large state-owned enterprises like PetroChina and China Life, significant appreciation of the RMB leading to foreign capital inflow, and positive expectations for the 2008 Beijing Olympics. Nearly 19 years later, the Shanghai Composite Index has yet to break this historical high.
When Xi Jinping took office in November 2012, the Shanghai Composite Index was consolidating around 2,000 points, at a phase bottom. In June 2013, due to the People's Bank of China's 'deleveraging' policy leading to tight liquidity, the Shanghai Composite Index once fell to a phase low of 1,849.65 points, with low trading volume.
Starting from July 2014, after years of consolidation, the Chinese stock market experienced a rapid and fierce upward trend, described as a 'mad bull' or 'fighting bull' market. After breaking out of the box-shaped consolidation zone of 2,100 points, the Shanghai Composite Index rose all the way, reaching a phase high of 5,178.19 points in June 2015, which was also the second-highest phase peak for the Shanghai Composite Index. At that time, slogans like '6,000 points is not a dream' and 'breaking 6,124 is just around the corner' were on the lips of Chinese retail investors.
Unexpectedly, the Chinese stock market then repeated a cliff-like collapse. The entire second half of 2015 was in a bear market, and the Shanghai Composite Index plummeted to 2,638 points by January 2016, severely impacting the market and investors. Since then, the Shanghai Composite Index entered a box-shaped consolidation lasting over 8.5 years, generally fluctuating between 2,700 and 3,700 points, and hit a phase low of 2,440 points in January 2019, with trading volume sharply shrinking.
Seeing that global stock markets surged to new highs after the COVID-19 pandemic ended in 2022, while the Chinese stock market lagged significantly, under the leadership of the CPC Central Committee, the Chinese authorities began to introduce a series of market rescue measures from late September 2024. With various resources deployed to stabilize and boost the market, the stock market responded with a significant rise, finally breaking through the box-shaped consolidation zone with increased volume and entering a long-awaited bull market.
Even though the operational performance of most listed companies in China was not ideal after the pandemic, with strong government support, the Chinese stock market remained robust after the aforementioned rescue measures and experienced a phase rally in 2025, with investor confidence clearly returning. In January this year, the Shanghai Composite Index finally stabilized above the 4,000-point mark and reached a phase high of 4,197 points in March, temporarily forming the third-highest phase peak.
By April 30, the Shanghai Composite Index closed the month at 4,112 points, maintaining a high-level consolidation trend. However, compared to the historical high of 6,124.04 points mentioned earlier, the current Shanghai Composite Index still has a gap of over 2,000 points. (Edited by: Qiu Guojiang / Tang Peijun) 1150504
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(Central News Agency, Taipei 4th) China's stock market, the second largest in the world by market capitalization, has experienced significant fluctuations since Xi Jinping took office as General Secretary of the Communist Party of China in November 2012. The Shanghai Composite Index soared from less than 2,000 points to 5,178 points within a year, then plummeted by half in just over six months, followed by an 8.5-year period of sideways trading. It was not until September 2024, after the CPC Central Committee introduced a series of market rescue measures, that the Shanghai Composite Index broke out of its consolidation and resumed its bull run, closing at a phase high of 4,112 points at the end of April this year.
The historical high of the Shanghai Composite Index was 6,124.04 points on October 16, 2007, during the administration of former CPC General Secretary Hu Jintao, which was also known as the largest 'bull market' in the history of China's capital market.
The reasons for China's 'bull market' in 2007 were mainly related to factors such as equity split reform, the economy being in a double-digit high growth phase, intensive listings of large state-owned enterprises like PetroChina and China Life, significant appreciation of the RMB leading to foreign capital inflow, and positive expectations for the 2008 Beijing Olympics. Nearly 19 years later, the Shanghai Composite Index has yet to break this historical high.
When Xi Jinping took office in November 2012, the Shanghai Composite Index was consolidating around 2,000 points, at a phase bottom. In June 2013, due to the People's Bank of China's 'deleveraging' policy leading to tight liquidity, the Shanghai Composite Index once fell to a phase low of 1,849.65 points, with low trading volume.
Starting from July 2014, after years of consolidation, the Chinese stock market experienced a rapid and fierce upward trend, described as a 'mad bull' or 'fighting bull' market. After breaking out of the box-shaped consolidation zone of 2,100 points, the Shanghai Composite Index rose all the way, reaching a phase high of 5,178.19 points in June 2015, which was also the second-highest phase peak for the Shanghai Composite Index. At that time, slogans like '6,000 points is not a dream' and 'breaking 6,124 is just around the corner' were on the lips of Chinese retail investors.
Unexpectedly, the Chinese stock market then repeated a cliff-like collapse. The entire second half of 2015 was in a bear market, and the Shanghai Composite Index plummeted to 2,638 points by January 2016, severely impacting the market and investors. Since then, the Shanghai Composite Index entered a box-shaped consolidation lasting over 8.5 years, generally fluctuating between 2,700 and 3,700 points, and hit a phase low of 2,440 points in January 2019, with trading volume sharply shrinking.
Seeing that global stock markets surged to new highs after the COVID-19 pandemic ended in 2022, while the Chinese stock market lagged significantly, under the leadership of the CPC Central Committee, the Chinese authorities began to introduce a series of market rescue measures from late September 2024. With various resources deployed to stabilize and boost the market, the stock market responded with a significant rise, finally breaking through the box-shaped consolidation zone with increased volume and entering a long-awaited bull market.
Even though the operational performance of most listed companies in China was not ideal after the pandemic, with strong government support, the Chinese stock market remained robust after the aforementioned rescue measures and experienced a phase rally in 2025, with investor confidence clearly returning. In January this year, the Shanghai Composite Index finally stabilized above the 4,000-point mark and reached a phase high of 4,197 points in March, temporarily forming the third-highest phase peak.
By April 30, the Shanghai Composite Index closed the month at 4,112 points, maintaining a high-level consolidation trend. However, compared to the historical high of 6,124.04 points mentioned earlier, the current Shanghai Composite Index still has a gap of over 2,000 points. (Edited by: Qiu Guojiang / Tang Peijun) 1150504
Choose to stand with facts, every sponsorship you make is a power to protect press freedom.
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The text, images, and videos on this website may not be reproduced, publicly broadcast, publicly transmitted, or utilized without authorization.