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本文认为,推动我国股市上涨的主要因素为过剩的流动性,其他如我国股市价值重估,公司业绩增长等利好因素已经被疯狂上涨的股指所透支,故基于现在的股票价格,我国股市已经存在泡沫。但由于过剩的流动性,股市泡沫不会立刻破灭,还会继续走高,但为了抑制泡沫快速变大,政府将会采取更为严格的措施,投资者将面临着极大的政策风险,故增强风险防范意识,回归价值投资已刻不容缓。
This paper argues that the main factor driving the rise of China’s stock market is excess liquidity. Other favorable factors such as the revaluation of China’s stock market and the growth of corporate performance have been overdrawn by crazy rising stock indices. Therefore, based on the current stock prices, China’s stock market already exists foam. However, due to excess liquidity, the stock market bubble will not immediately burst, but will continue to rise. However, in order to curb the rapid bubble growth, the government will adopt more stringent measures and investors will face great policy risks. Therefore, Risk prevention awareness, return to value investment has been urgent.