设立股市市盈率涨停制

To Establish Soaring Deadline System for Market Earning Rate of Stock Market

中国股市既要加快发展，又要健康发展；既要速度，又要安全。为防范中国股市风险，本报告提出一个政策建议：实行“市盈率涨停制”。即市盈率超过一定值（如２５倍），股票停止交易。第一步，设立“市盈率信号系统”；第二步，以１９９８年为“市盈率教育年”；第三步，新上市股票实行“市盈率涨停制”；第四步，全部上市股票实行“市盈率涨停制”

Abstract China's stock market will be developed quickly and at the same time to be developed healthily; that is to say: quickly and safely. To prevent risks from China's stock market this paper proposes a policy recommendation:to establish “soaring deadline system” for market earning rate. When market earning rate of a certain stock exceeds a certain amount, for example 25 times, the exchange of that stock would be stopped. First step, to set up “Signal system for market earning rates”;second step, to set 1998 as the “year to learn market earning rates”; third step, to practise “soaring deadline system of market earning rate” for newly listed stocks; fourth step, to practise “soaring deadline system of market earning rate” for all listed stocks in the markets.