China's Stock Market A Series Of Policy Effects

In our country, the stock market policy becomes the factor that affects the stock market's running direction, running rhythm, even running order. The government takes use of the stock market policy to adjust the stock market whose original intention is to let the stock market running more reasonably and steadier, but the result is that the stock market's undulation, sometimes even causes the market movement to have the directive changes. The research content of the article is to analyze the stock market series policy effect, grasp the rules of the stock market policy effect, reveal the influence extent of the stock market policy.This article at first states the basic concept and classification of the stock market policy and the series policy effect, also analyzes our country stock market's character, drawing the conclusion that 'policy market' is the inevitable outcome with the development of our country' stock market.The emphasis of the article is to study the positive research to the stock market series policy effect. The stock market policy is interdependent, therefore the stock market policy effect is not cause by single policy and we should study the stock market policy effect which series are related. During specific research, the author uses various methods of statistics and econometrics. Firstly, the author analyze the stock market series policy, moreover choose the revenue stamp tax rate adjustment and interest rate adjustment. Secondly, using the pseudo variables regression analysis method, we build the policy regression model to study the influence extent of various stock market policy , and build the analycis model of policy strength to the investigate the change of policy strength. Last, we analyze the stock market policy effect by the method of 'the abnormal fluctuation point'.Through the positive research, the author reveal the defects of the stock market policy, then put forward some policy suggestions for the stock market.