Cover Story: China’s Stock Market Roars Back to Life — But Can It Outrun Economic Gravity?

A blistering rally has lifted Chinese stocks to their highest levels in nearly a decade, pushing total market capitalization above 100 trillion yuan ($13.9 trillion) for the first time. The surge has sparked a fierce debate over whether this is the dawn of a durable “slow bull” market or merely a speculative, emotion-driven upswing detached from grim economic realities.