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Second, the stock market ecology under the registration system3. Reform of comprehensive registration systemConclusion: The combination of economic transformation and upgrading with the reform of registration system will lead to a long-term bull market. Under the registration system, the stock market ecology will undergo major changes, the speculation gap will be effectively curbed, indexed investment will become the mainstream of the market, and the institutionalization of ETF-based retail will be accelerated.

In the "share-trading reform", the major shareholders obtained the circulation right by giving consideration to the minor shareholders, and the market entered the era of full circulation. During the time limit when "non-size" obtained the right of circulation, the market formed a super bull market, which was the end of the era of non-tradable shares and the welcome of the era of full circulation.Is there a bull market? (6) The relationship between the big bull market and the big market change.1, the relationship between 519 market and policy change.

1, the relationship between 519 market and policy change.2. Share reform marketFirst, the relationship between the big bull market and the great changes in the capital market