Analysis of the Differences and Linkage between Chinese and American Stock Markets

摘要

This paper compares the stock markets of China and the United States from several aspects, such as the first class IPO market mechanism, secondary security market mechanism, and the market supervision mechanism. Overall, China’s stock market lags behind the United States stock market. Then, this paper expounds the transmission channel of stock market linkage and the related theory of stock market linkage. Through the trade between countries, the economic spillover effect, the gradual increase of transnational listing, and the globalization of stock companies, the paper explores the related ways of Chinese and American stock markets from four aspects, and tr style="font-family:Verdana;">ies style="font-family:Verdana;"> to analyze the formation mechanism of the linkage between China and America stock markets in four channels: International trade, financial capital, policy and expectation. Finally, a conclusion is drawn: With the development of China’s economy and opening of the stock market system, the stock market linkage between China and the United States is increasing gradually.