I can tell you that I've heard of a few Chinese people that made a killing. They didn't gamble more than they could afford to lose, pulled out before it was too late. Some have even gone back in to get certain stocks cheap; but that's very, very risky, nobody can really tell how bad this will get.

Others got too greedy and trusted the propaganda machine a little too much. But those that sent their son and daughters to uni with a load of money to invest in shares... Well, pretty soon, teachers won't have to compensate so many phones and tablets in the middle of a trading session.
And as for the farmers that stopped farming to trade shares, only returning to the fields at the end of a trading session... Leave this shit to the educated people, will you?

I don't quite wish total collapse upon them, but maybe the government will learn not to interfere in certain things. Certain elements of capitalism just can't be done with 'Chinese characteristics.'