The Research On The Relationship Between Fictitious Economy And Real Economy In China

The fictitious economy is quite a new topic. It's the outcome of social division of labor and science technology development. Its development brings new challenge to the traditional economy. Fictitious economy and real economy and its relationship composed the new economy system.The world economy development is the Fictitious Economy process and a single national financial market intertwined with the global market which is the performance of the fictitious economy of globalization. Therefore, the study on the relationship of fictitious economy and real economy in theory and empirical at the same time will help us better manage the fictitious economy. Particularly, the report of National Congress Party clearly highlight correct handling of the fictitious economy and real economy, which also spur and encouraged research in this area.The ultimate purpose of this study is to provide a reference direction of how to control the fictitious economy from the policy level through the author's theoretical and empirical analysis.From theoretical and empirical analysis, we get the results below:1. Fictitious economy and real economy does not appear substantial separation, their interaction maintains the overall consistency. "Fictitious economy harmful theory" is untenable; the right move is to create a healthy interaction between virtual economy and real economy.2. Through the analysis of fictitious Economy Development index, the degree of China's currency is good; the rate of financial-related values is within reasonable limits, the development of the fictitious economy as a whole is fine and could be controlled.3. There is a long-term co-integration between stock market and real economy. It means that China's stock market can appropriately explain the development of real economy, and the entity-oriented economic policies could stabilize the long-term impact of the stock market.4. From the perspective of theory and positive research, the development of fictitious economy and real economy still has some issues. The government should pay attention to the development of real economy and also make accurate policy for the guidance of fictitious economy, which will finally enhance the overall economic strength.