China had a monstrous collapse in 2015, after that rally it is now showing some short term weakness. The problems they face are currency, slowing growth, and house prices.
I believe that house price may effect stock prices but it shouldn't be something that effects the whole market because the problem is evident, when we know about the problem we protect against it making the problem minor and we can see that being addressed.
The slow growth is concerning but anything over 3% is still faster than we will get here and they still have plenty of room for interest rate cuts and stimulus. Much of their debt is held in their own currency so that is manageable.
The biggest concern is there currency situation, however once again everyone knows about it therefore it is being addressed thus not an issue.
Technically there is a large invHS for a long set up. This is a position for a couple years to trade around.