1. On December 16, 1996, People's Daily published a special commentator's article entitled "Correctly Understanding the Current Stock Market", pointing out the serious excessive speculation and possible risks in the current stock market. At the same time, the Shanghai and Shenzhen Stock Exchanges issued a notice and decided to impose a 1% price limit on the trading prices of stocks (including A and B shares) and fund securities listed and traded on the two exchanges from December 16.

At that time, the market plunged for four days in a row, with the declines of 5.44%, 5.7%, 9.91% and 9.44% in two days.

on December 16th, it plunged by 9.91%, and almost all the stocks fell, except for a few small-cap stocks. It was the worst day in China's history. I didn't expect it to fall by 9.44% the next day.

2. On February 27th, 27, the indexes of A-shares all fell by more than 8%, among which the Shanghai Composite Index and Shenzhen Component Index recorded the biggest one-day declines in recent 1 years, with 8.84% and 9.29% respectively. Of the 1,327 tradable A shares in the two cities, 1,72 stocks fell by more than 7%, and more than 8 stocks fell.

3. On the night of May 29th, 27, the Ministry of Finance suddenly announced that the stamp duty would be raised from 1‰ to 3‰, which caused the stock market to plummet by 281 points, or 6.5% the next day. What is even more frightening is that on June 4 th, it fell by 8.26%, and several heavy punches completely knocked the bulls down. In just one week, the Shanghai Composite Index plunged from 4,3 points to 3,4 points, and many stocks suffered three consecutive daily limit. The majority of investors suffered heavy losses because they were caught off guard, which is known as the "5.3 stock market crash".