Chinese domestic equities are worth more than US$10 trillion ($13.59 trillion) for the first time since 2015, when a record crash erased half the market’s value in months and saddled millions of investors with losses.
The world’s second-largest stock market has added US$3.3 trillion since a low in March, helped by Beijing’s policies to encourage equity trading, a flurry of new listings and the strengthening yuan. Stocks have been close to the US$10 trillion milestone since July, when China’s government acted to tame a speculative rally that had suddenly pushed a gauge of large caps near a 12-year high.
The country’s total market capitalisation is now US$10.04 trillion and just shy of the all-time high, according to data compiled by Bloomberg as of Oct. 12. The US has the world’s most valuable stock market at US$38.3 trillion.