The stock market is the barometer of national economic conditions, which isgenerally considered to be one of its basic functions. The two basic parameters ofshanghai stock index and China's GDP are chose, which cover the period fromJanuary 1995 to December 2005.The dates are analyzed on econometric method ofone variable linear regression, which adopts both integration analysis andphase-related method .Research shows, whether from as a whole, or as some stages,the perspective of China's stock market has not played the function of "barometer" onnational economy. Based on other scholars study, the paper not only adopts the latestdata, adopts different stage methods, but also analyses in-depth from the perspectiveof the stock market effectiveness. The study on the capital deepening rate of the stockmarket further found that the Chinese stock market is invalid. Finally, the issue makessome summary analysis conclusion and gives some suggestion on China's stockmarket. |