While Chinese equities initially bounced 14% off their July 8 low, the 8.5% plunge on July 27 suggests that that may have been a temporary respite. The likelihood of forced deleveraging of margin calls underscores the potential for a further slide once full trading resumes.
中国股市从7月8日的低点大幅反弹14%，但7月27日再度暴跌8.5%，这表明市场稳定也许只是昙花一现。全面恢复交易后，被迫去杠杆的可能性仍可能造成进一步下跌。