Analysis of the Differences and Linkage between Chinese and American Stock Markets
This paper compares the stock markets of China and 
the United States from several aspects, such as the first class IPO market 
mechanism, secondary security market mechanism, and the market supervision 
mechanism. Overall, China’s stock market lags behind the United States stock 
market. Then, this paper expounds the transmission channel of stock market linkage 
and the related theory of stock market linkage. Through the trade between 
countries, the economic spillover effect, the gradual increase of transnational 
listing, and the globalization of stock companies, the paper explores the 
related ways of Chinese and American stock markets from four aspects, and tries to analyze the formation mechanism of the linkage 
between China and America stock markets in four channels: International trade, 
financial capital, policy and expectation. Finally, a conclusion is drawn: With 
the development of China’s economy and opening of the stock market system, the 
stock market linkage between China and the United States is increasing 
gradually.