On the afternoon of July 17, the Shanghai Composite Index fell below 3,800 points in the intraday period, and the GEM and Shenzhen Stock Exchange Index once fell more than 8%. Subsequently, the three major indices bottomed out and rebounded, and the decline in the GEM index quickly narrowed to around 4%. Industry insiders analyzed that the current adjustment is more of a high fluctuation in the slow bullish process rather than a trending inflection point. In particular, in a context where the Shanghai Composite Index is close to the annual line, the two financial leverage has been removed to a certain extent, and growth ETFs such as Science and Technology Innovation 50, GEM Index, and China Securities 1000 still have capital inflows, the current position of the market has strong support.

On the afternoon of July 17, the Shanghai Composite Index fell below 3,800 points in the intraday period, and the GEM and Shenzhen Stock Exchange Index once fell more than 8%. Subsequently, the three major indices bottomed out and rebounded, and the decline in the GEM index quickly narrowed to around 4%. Industry insiders analyzed that the current adjustment is more of a high fluctuation in the slow bullish process rather than a trending inflection point. In particular, in a context where the Shanghai Composite Index is close to the annual line, the two financial leverage has been removed to a certain extent, and growth ETFs such as Science and Technology Innovation 50, GEM Index, and China Securities 1000 still have capital inflows, the current position of the market has strong support.