Research On The Correlation Between Stock Market And Macroeconomic Economy Based On Industrial Structure

In the modern economic environment,the stock market and the real economy have two-way relationship and influence each other.Compared with developed countries,China’s stock is highly disturbed by the government in the early stage of its establishment and development,which makes it have strong particularity.Listed companies are not only the cornerstone of the healthy development of the stock market,but also the pillar of our various industrial economies,whose development and changes affect the improvement of the entire national economy.Based on the annual reports of listed companies and stock market performance data,it studies the correlation between stock market and macroeconomic economy from the level of industrial structure in the paper.Firstly,it reviews the domestic and foreign literature on the correlation between the stock market and macroeconomic economy,and explains the related concepts and basic theories of the stock market and the industrial structure in the paper.Secondly,based on the total output structure and added value structure of listed companies,the analysis of the overall and changing characteristics of the industrial structure,the results show that the industrial structure of listed companies is constantly upgraded,the rationality is enhanced,reflecting the economic development trend of agricultural development modernization,industrial development informatization,service industry development advanced.Thirdly,from the qualitative and quantitative perspectives,in-depth analysis of the correlation between the stock market and macroeconomic economy,the results show that the listed companies and the overall economic industrial structure no matter the added value or total output structure is significantly different,but the degree of difference is narrowing,the speed of structural change is gradually approaching,and the industrial distribution is becoming more and more similar.Then,the reflection deviation degree model is constructed to explore the reflection degree and evolution trend of Chinese stock market to macroeconomic economy.The results show that the stock market presents a trend of continuous independent development,and there is no close correlation between the market valuation of enterprises and macroeconomic reflection deviation degree.Finally,according to the present situation of the industrial structure development of China’s listed companies and the correlation between the stock market and macroeconomic economy,this paper analyzes the development direction of industrial structure of China’s stock market in the future and puts forward relevant policy implications.