Beijing:China's benchmark CSI 300 index entered bear-market territory during trading Thursday, experiencing a deepening decline of about 20% from its June peak.

According to Anadolu Agency – English, the CSI 300 index, which tracks 300 major stocks listed in Shanghai and Shenzhen, fell more than 1.4% during the session and was down approximately 3.2% for the week.

The latest downturn follows 10 consecutive weeks of losses, highlighting the sustained pressure on Chinese equities. The fall of 20% or more from a recent peak is commonly described as bear-market territory.

This decline comes amid concerns over corporate earnings, intense competition, and excess industrial capacity, which have impacted profit margins across parts of China's economy. Additionally, a prolonged slowdown in the property sector and persistent weakness in consumer demand have further weighed on the economic outlook.

Technology shares have experienced additional selling pressure due to concerns over artificial intelligence valuations and doubts about whether substantial investment in the sector will yield adequate returns.