When was the stock market crash in China? What caused it?

For two years, they were 1996 and 200 1 respectively. Let's explain it in detail:

1. Cause: The trend of the stock market is seriously divorced from the fundamentals of the economy and is doomed to be unsustainable. At the slightest sign of trouble, the whole line will collapse, and people in the stock market are too speculative, either entangled in storm warning or chasing up and down by feeling, which will inevitably lead to a tragic ending;

2. 1996 After the National Day, the stock market was all red. From April 1 to February 9 1, the Shanghai Composite Index rose by 120%, and the Shenzhen Component Index rose by 340%. In order to cool down, the CSRC issued various regulations and notices later called "12 gold medal", but the market continued to climb;

On July 26th, 20001year, the reduction of state-owned shares was officially launched in the issuance of new shares, and the stock market plummeted, and the Shanghai Composite Index fell by 32.55 points. By June 10 and 19, the Shanghai Composite Index plunged from 2245 in June 14 to 15 14, and more than 50 stocks fell. In that year, 80% of investors were quilted, the net value of the fund shrank by 40%, and the brokerage commission income decreased by 30%.

Extended data:

Stock market disaster is the abbreviation of stock market disaster or stock market disaster. It refers to the abnormal economic phenomenon that when the internal contradictions in the stock market accumulate to a certain extent, due to the influence of an accidental factor, the stock price suddenly collapses, causing great social and economic turmoil and huge losses. The stock market crash is different from the general stock market fluctuation and the general stock market risk.

Reference: Stock Crash-Baidu Encyclopedia