Risk Measure and Early-Warning System of China's Stock Market Based on Price-Earnings Ratio and Price-to-Book Ratio

Table 6

P/E contrast of China’s stock market and foreign ones.

Year	Shanghai Composite Index	Dow Jones Index	Financial Times Ordinary Shares Index	Hang Seng Index	Korea Stock Price Index	Taiwan Weighted Index
1995	15.70	13.89	15.60	11.40	16.60	21.30
1996	31.32	15.71	16.20	16.70	18.00	29.00
1997	39.86	18.58	19.20	12.10	9.80	27.00
1998	34.38	21.88	23.30	10.70	27.80	26.10
1999	38.13	25.13	30.50	26.70	34.60	47.70
2000	58.22	22.85	23.30	12.80	15.40	14.80
2001	37.71	31.06	20.30	12.20	29.30	41.60
2002	34.43	29.00	17.70	14.90	15.60	41.80
2003	36.54	27.88	18.30	19.00	10.10	24.80
2004	24.23	20.44	14.70	18.70	15.80	12.60
2005	16.33	18.85	14.00	15.60	11.00	17.60
2006	33.30	18.16	13.40	17.40	11.40	19.00
2007	48.50	25.48	11.80	22.50	16.80	15.30
2008	14.85	16.13	6.30	7.30	9.00	9.80
2009	28.78	18.73	16.80	18.10	23.70	110.5
Mean	33.53	21.58	17.43	15.74	17.66	30.59
Std. Dev.	13.19	5.16	5.66	4.96	7.81	24.81