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中国股市连续深幅下跌的根源是股市制度的缺陷性,最重要的是中国股市缺乏保护投资者尤其是中小投资者的制度和机制2011年12月13日的上证综指最低价跌至2245.87点,恰好与2001年6月14日的最高点2245.44点相当,这意味着若不考虑复权因素,上证综指十年累计涨幅归零。很显然,中国股市十年零涨幅与中国经济的发展水平并不同步。根据国家统计局的数据,自2002年起中国GDP增长率一直超过
The root causes of the continuous deep decline in China’s stock market are the defects of the stock market system. The most important thing is that the Chinese stock market lacks the system and mechanism to protect investors, especially small and medium-sized investors. On December 13, 2011, the lowest price of the Shanghai Composite Index dropped to 2245.87 points , Which coincided with the highest point of 2245.44 on June 14, 2001, which means that the cumulative increase of the Shanghai Composite Index will return to zero for ten years if we do not consider the reinvestment factor. Obviously, the zero-year rise of the Chinese stock market is not in pace with the level of China’s economic development. According to the National Bureau of Statistics, China’s GDP growth rate has been over since 2002