从动态一般均衡的角度看,中国股票 市场存在巨大泡沫,没有投资价值。但是, 股票市场的内在规律又决定了中国股票 市场未来几年将在巨大泡沫的基础上走 向巨大的牛市,中国股票市场面临非常好 的投资机会。这有利于中国政府抓住机会 解决股票市场中长期存在的规范、发展问 题,同时也为广大投资者、上市公司、中介 机构带来了难得的历史机遇。 From a dynamic general equilibrium perspective, there is a huge bubble in the Chinese stock market, with no investment value. However, the inherent law of the stock market also determines that the Chinese stock market will go to a huge bull market on the basis of a huge bubble in the coming years. China’s stock market faces very good investment opportunities. This will help the Chinese government seize the opportunity to solve the long-standing norms and development problems in the stock market and bring about rare historic opportunities for investors, listed companies and intermediaries.