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As the financial crisis spreading all over the world,the economic environment in many countries is getting worse and warrants.As financial derivative products,warrants bring vitality to the financial markets,while also increasing the risk of the financial market.It seems especially important to analyze the causality relationship between warrants price and trading volume,make warrant investors fully understand and grasp the trading environment in order to get avoid of unnecessarily risk.Using linear and nonlinear causality test method,this paper empirically studies the causality relationship between warrants price and trading volume in China.