What is in Xi's mind? China's stock market faces a looming disaster: Cracked down by China and U.S.

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China concept stocks are a series of stocks whose main assets or revenues of companies are located in mainland China. This past week, prices of China concept stocks listed in the U.S. and Hong Kong plummeted due to a regulatory storm by the Chinese government.
As of July 29, the NASDAQ Golden Dragon China Index listed in New York fell by 20% in one week, with the overall market value evaporating by US$500 billion, while Chinese education stocks fell by as much as 60% to 78%.
According to the statistics of 01caijing, a Finance and Technology Communication Platform in China, by July 29, 2021, out of all the Chinese companies that went public in the U.S. in the past three years, there are still 79 Chinese stocks that have not been delisted, and more than 70% of them are hitting the bottom. China's leading tycoons have seen their assets shrink significantly as a result.
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