Story perspectives

China A-Shares Return to 2021 Levels Amid Rising Inflation

7/14/2026

Summary

Story summary

China’s domestic A-share market, which fell 45.6 percent from its February 2021 peak through September 2024, has recovered to roughly its 2021 levels, the China Finance 40 Forum reported.
The report notes inflation bottomed in 2025 and has risen steadily since.
Real interest rates fell markedly, reducing downward pressure on stock valuations.
Researchers led by Yu Fei of the forum found that post-slump recoveries depend on macro conditions rather than home-price declines.

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Story summary

China’s domestic A-share market, which fell 45.6 percent from its February 2021 peak through September 2024, has recovered to roughly its 2021 levels, the China Finance 40 Forum reported.
The report notes inflation bottomed in 2025 and has risen steadily since.
Real interest rates fell markedly, reducing downward pressure on stock valuations.
Researchers led by Yu Fei of the forum found that post-slump recoveries depend on macro conditions rather than home-price declines.