In the summer of 2015, the Chinese stock market experienced a dramatic crash, with the Shanghai Composite Index losing more than 30% of its value in a matter of weeks, wiping out over $5 trillion in market capitalization. The crash was triggered by a combination of excessive margin trading, overvaluation, and a slowdown in the Chinese economy, and it led to unprecedented government intervention, including a ban on major shareholders selling shares. The event raised global concerns about the stability of China's financial system.

The crash was a major subject in contemporary Chinese literature, as poets and novelists explored the social and psychological impact of the market turmoil on the Chinese middle class. The event inspired a wave of 'economic poetry' in China, with writers critiquing the speculative frenzy and the disconnect between financial markets and the real economy, themes that resonated with a generation of young Chinese writers.