中国股票市场泡沫(英文)

CHINESE STOCK MARKET BUBBLES

中国股票市场历史虽不久远,但股票泡沫却一直存在,这也成为阻碍股票市场发展的关键原因。本文将以工商银行(A股),世纪鼎利(创业板股)这两只不同种类的股票为例,通过实例分析,比较不同种类股票泡沫的大小,分析影响泡沫大小的因素。其中市盈率无疑是一个重要的参考标准,还有公司类型,政府干预也是因素之一。同时,本文还会比较2008年金融海啸前后的中国股市,讨论其是不是影响股市泡沫的又一原因。

Our group＇s topic is the Chinese stock market bubbles.We＇re going the develop the essay in to several different aspect,such as Chinese stock market history,the relationship and contradiction of Chinese stock market and U.S.stock market,the government policies,and real cases of Chinese stock.I＇m going to mainly focus on showing you the real cases of some representative Chinese stocks in order to clearly explain the stock market bubbles.I＇ll show two different stocks,one is bank stock（ICBC）,another is GEM stock（Dingli Communications）.They are very different stock,one is state owned stock,another is private stock;one has relatively low Priceearnings ratio（P/E）,another has relatively high P/E ratio;one is relatively stable,another is very fluctuant.Furthermore,I will also compare the stock market before the economic recession in 2008 and the current stock market,and illustrate the factors which cause the stock market and the reasons of market fluctuation.