2013年中国A股市场分析

本文分析了2013年影响中国A股市场的主要因素。2013年影响A股市场的主要因素有：一、宏观经济短期企稳，上市公司盈利改善；二、改革预期带来的风险偏好上升；三、中国经济转型带来的压力。经济短期企稳、上市公司盈利改善以及对改革的良好预期将有助于提升市场信心，从而推动Ａ股市场估值水平回升。但中长期来看，受制于中国经济的转型压力，改革的力度和效果仍有待观察，Ａ股市场反弹高度受到限制。2013年Ａ股市场面临两个主要风险：一是通货膨胀涨幅超预期；二是日本经济政策效果有待观察。

ANALYSIS ON CHINA'S A-SHARE MARKET IN 2013

This paper investigated the main factors which would drive China's A-share market in 2013.he first factor was that the economy would be stabilized periodically and enterprises profit would be improved.The second factor was the reform dividend and the third factor was that economic transition pressure Stable economy and the reform dividend could promote the confidence of investors and improve the level of market valuation.However, being enslaved to economic transition pressure, A-share marketwould continue to be bumpy.The main risks of A-share market would be inflation expectations and the effect of Japanese economy policy