| In China, as with the development of the share-holding ownership economy, the stock market has made great progress, and it has helped a lot on fund-raising and the reform of the state-owned enterprises. But there also exist some problems in the stock market, especially in recent years, the stock market doesn't affected by the economic growth, which becomes one of the important viewpoints of the economy research fields. It is under such environment that the thesis analyses the relationship between the stock market and the economic growth.Firstly, the thesis summarized the domestic and international research accomplishment about the economic growth and the development of the stock market, concluding that the development of stock market has positive influence on economic growth. When it comes to the study of economy growth and the stock market of our country, we should consider that the main goal of the stock market of our country is to help the reform of the state-owned enterprises. Then based on the theory of endogenous economic growth, the thesis analyses the mechanism that the development of the stock market promotes the economic growth.Secondly, the thesis analyses the contributions of the stock market made in China for more than 10 years and the relationship between the economic growth and the stock market in region and the industry with panel-data and the multivariate regression method. It is proved that the stock market does much progress to the economic growth especially to the secondary industry.Thirdly, the thesis analyses the co-movement of the economic growth the stock market using co-integration and Granger test and draws the conclusion that there are long relationship between the economic growth and the stock market in three of the four stages, the stock and the economic growth affects each other And it points out that after 2001, the deviation of the economic growth and the stock market is the effect of the unreasonable growth of the economy.
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