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时下,中国股市风云激荡,已成为全民关注的焦点。从全局上看:一面是,股市市值由2005年底到2007年4月上升了四倍;沪深两地股指从股改起到2007年6月止在不到两年时间里分别各涨了4倍;总市值由3万多亿涨到18万亿元,上涨了6倍;沪深两地总体市盈率均高达50倍(正常值一般为10～25倍)以上;2007年4月单月新增A股开户数超过2006年全年总和,日均增长约15万户,现有股民近亿户,真可谓“全民皆股”;成交量也高得惊人,日过千亿不足为奇,有时高达近四千亿元,超过全亚洲股市日成交量的总和。另一面是,政府为了防范风险,扼止股市超乎寻常的飙升,央行“三率”齐动和印花税的上调,股市进入一个宽幅震荡的调整期。
Nowadays, the turbulent Chinese stock market has become the focus of public concern. From a global perspective: one is that the market value of the stock market has quadrupled from the end of 2005 to April 2007; the stock indices in Shanghai and Shenzhen have risen 4 times respectively in less than two years from the date of share reform until June 2007 ; The total market value rose from 3 trillion to 18 trillion yuan, up 6 times; the overall price-earnings ratio in Shanghai and Shenzhen are as high as 50 times (normal is generally 10 to 25 times) more; in April 2007 a single month new The number of A-share accounts exceeds the total sum of 2006, with an average daily increase of about 150,000. Nearly 100 million existing shareholders are truly “all-people stocks.” The transaction volume is also staggering. , Sometimes as high as nearly 400 billion yuan, more than the sum of the daily trading volume of the entire Asian stock market. On the other hand, the government has stepped into a period of wide and volatile adjustment in order to prevent risks, curb the extraordinary soaring of the stock market, the central bank’s “three-rate” move and stamp duty increases.