FINANCE

China Stock Margin Trading Hits Record

Published: May. 12, 2026 4:40 p.m. GMT+8

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China’s margin financing and short-selling balance climbed to a record 2.83 trillion yuan ($416 billion) Monday, surpassing the peak seen during the country’s 2015 stock market boom and reviving debate over leverage risks.

The outstanding balance across the Shanghai, Shenzhen and Beijing exchanges surpassed the 2015 high of 2.27 trillion yuan as equities rallied, with the Shanghai Composite Index hitting its highest level in nearly 11 years on Monday.

Shanghai Composite Index Hits Nearly 11-Year High

Analysts, however, said risks appear more contained than a decade ago, when rampant off-exchange lending fueled a boom-and-bust cycle that ended in a market crash. Regulators and brokerages have since tightened controls on margin trading, while unofficial leverage channels have largely been curbed.

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China’s margin financing and short-selling balance hit record 2.83T yuan ($416B), surpassing 2015 peak of 2.27T yuan.
Shanghai Composite reached nearly 11-year high.
Risks more contained: margin trading <11% turnover (vs 22% in 2015), 2.5% tradable cap (vs 4.7%); mostly financing.

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Who’s Who

Shanghai Stock Exchange: The Shanghai Stock Exchange contributed to China's record margin financing and short-selling balance of 2.83 trillion yuan ($416B) on Monday, surpassing 2015's 2.27 trillion peak. Its Shanghai Composite Index hit a nearly 11-year high amid the equity rally. Margin trading now <11% of turnover (vs. 22% in 2015) and 2.5% of tradable cap (vs. 4.7%).

Shenzhen Stock Exchange: The margin financing and short-selling balance across Shanghai, Shenzhen, and Beijing exchanges hit a record 2.83 trillion yuan ($416 billion) on Monday, exceeding the 2015 peak of 2.27 trillion yuan amid a stock rally.

Beijing Stock Exchange: The Beijing Stock Exchange, along with Shanghai and Shenzhen, saw China's margin financing and short-selling balance hit a record 2.83 trillion yuan ($416 billion) on Monday, exceeding the 2015 peak of 2.27 trillion yuan amid a stock rally.

AI generated, for reference only