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量化分析显示,股市的P/E估值的合理化国际化接轨,除了依靠市场大幅度下跌的硬着陆来实现以外,还可以依靠存量公司业绩提升、引入低市盈率上市公司的市场扩容及国有股流通补偿等方式来实现。这样即使上证指数保持在目前1300-1700 点振荡区间,也可达至估值软着陆目标。当然此需政策外力来抵消市场P/E估值走低趋势的压力,将会趋使市场在相当长时间内对于政策的高度依赖。
Quantitative analysis shows that rationalization of internationalization of P / E valuation in the stock market can not only be achieved by a hard landing with a sharp decline in the market, but also by relying on the performance improvement of the stock companies, introducing the market expansion of listed companies with low P / E and the circulation compensation of state-owned shares And other ways to achieve. So even if the Shanghai index remained at the current oscillation range of 1300-1700 points, but also reach the valuation of soft landing objectives. Of course, this requires policy external forces to offset the market downward pressure on P / E valuation will tend to make the market for a long time for the policy highly dependent.