There are many reasons. Simply put, the following points are discussed with netizens:

1) China stock market was kidnapped by stock index futures, which affected the stock market trend.

2) There are not many people involved in China's stock index futures. Because of the high threshold, stock index futures are manipulated or kidnapped by a few players, so that big speculators indirectly manipulate the stock market.

3) Many domestic retail investors and institutional investors are short-term, so the stock market cannot rise.

4) The stock market in China is not perfect, and the company supervision needs to be improved.