A Study On The Information Of Stock Market In China

China's stock markets experienced 20 years of development, after the unremittingexploration, step by step, the stock market from scratch, from weak to strong, from disorder toorder, from the chaos to order. Made outstanding achievements, can say the Chinese stock marketon the scale has made great achievement. With the further development of China's economicreforms, which requires the Chinese stock market should pay more attention to efficiency. As thestock market information and influence the efficiency of the most important factors, therefore, onChinese stock market information asymmetry is particularly important research.This paper selects the 2005-2008 stock market data. From the two aspects of China's stockmarket information asymmetry. The 2004-2007 annual a-share market shares of listed companiesafter the disclosure of the yield was studied, 2005-2008 China stock market informationasymmetry of annual change. Research results show that: the Chinese stock market has significantinformation asymmetry, and in the annals of information disclosure of information disclosurebefore there may exist. However, this situation with the passage of time is gradually improved.At the same time through the a-share market and H shares listed companies as A samplemarket. In this paper the same information disclosure in different market after the reaction.Results show that: the a-share market efficiency is lower than the h-share market, and in twomarkets have found no information leakage phenomenon. It shows that don't exist informationasymmetry. Through A comparative study of the two markets, can be found in both h-sharesmarket efficiency in supervision of all standard than a-share market, China's stock market highrelative to the mature of the stock market still exists between the small gap.