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刚刚过去的1996年,中国股市经历了一场前所未有的异常火爆的大牛市行情:从1月2日至12月11日,深沪股票市场共进行了233天交易,深圳成份指数从924点狂升至4522点,涨幅约500%;上海综合指数从512点涨升至1258点,升幅达250%。两市股指均创出近年新高,深市更是牛气冲天,连续刷新股指,创下历史新纪录;伴随着股价上扬,两市成交也创下日成交300多亿的历史天量;股民队伍急剧扩大,由1995年末的975万户增至2100万户,超过了新中国开辟股市以来的总和。1996年,中国股市升幅之巨被公认为“全球第一股市”。然而,透过股市外在的火爆,我们可以而且应该提出以下三问:
In 1996, the Chinese stock market experienced an unusually hot bull market. From January 2 to December 11, the Shenzhen and Shanghai stock markets conducted a total of 233 days of trading. The Shenzhen component index swelled from 924 points Rose to 4522 points, an increase of about 500%; Shanghai Composite Index rose from 512 points to 1258 points, an increase of 250%. The two cities stock index hit a new high in recent years, the Shenzhen market is bullish, continuous refresh the stock index, setting a new record in history; along with the stock price rose, the two cities also hit a turnover of more than 300 billion days of history; stock market rapidly expanded, From 19.5 million at the end of 1995 to 21 million, surpassing the sum of the shares that New China opened up to the stock market. In 1996, the huge rise in China’s stock market was widely recognized as “the world’s first stock market.” However, through the hot outside of the stock market, we can and should raise the following three questions: