The Shanghai Composite, China's main stock index, opened down 0.5 per cent after rallying for a 20 per cent gain over the past two months.

CNN: Growth in Chinese manufacturing slows

Meanwhile, after a series of big ups and downs, China's stock market, as measured by the Shanghai Composite Index, is trading right where it was about a decade ago.

WSJ: The People's Money: Why Chinese Stocks Are Alluring

Shares of Chinese companies listed on the New York Stock Exchange and the Nasdaq have held up well over the past year, in spite of the fact that the Shanghai Composite Index, which tracks the bigger of China's stock exchanges, has been one of the world's worst-performing markets.

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