采用HP滤波法、ARCH类模型分析我国黄连价格指数波动,结果表明:其价格指数走势经历三个阶段,分别呈“V”、“U”、“”形,波动呈随机游走趋势,具有“尖峰厚尾”特征,存在异方差效应和集簇性;黄连市场不具有高风险高回报、低风险低回报特征,其波动具有不对称性。基于研究结论提出加大市场信息化水平建设、引导从业者理性决策、控制黄连价格过度波动、推进黄连产业链建设等对策建议。 Using HP filter method and ARCH model to analyze the price fluctuation of Coptis chinensis in China, the results show that the price index has experienced three stages, which are “V”, “U”, “” It has the characteristics of “peaked and thick tail” with the characteristics of heteroscedasticity and clustering. The Coptis market does not have the characteristics of high-risk, high-return, low-risk and low-return, and its fluctuation has asymmetry. Based on the conclusions of the study, we proposed to increase the level of market information, guide practitioners in rational decision-making, control excessive price of coptisine, and promote the construction of Coptis industrial chain.