我国企业盈利水平进入明显上升期

 摘　　要:本文分析了近10年来我国工业企业利润超长期增长的深层次原因，和与之相伴的企业盈利能力不断上升、财富积聚效应、投资高速增长和股市繁荣等宏观经济中的新变化、新特点，以及财富积聚效应对投资增长和股市繁荣的影响，对实体经济和虚拟经济的互动进行了尝试性的分析。

Chinese Industrial Enterprises'Profitability Maintains an Obvious Cyclical Uptrend

Chinese industrial enterprises have experienced a steady increase in business profits during the last ten years. This paper firstly provides an insightful analysis on the profound reasons of the unusual long-term growth in business profits as well as the associated changes and new characteristics appeared in the macro-economy such as the continuous growth in enterprises' profitability, the accumulative wealth effects, the rapid growth in investment and the stock market boom. Furthermore, this paper studies how the accumulative wealth effects influence the investment growth and the stock market boom. Finally, a tentative analysis is conducted on the interaction between the real economy and the fictitious economy.