But after 2000, especially after 2010, when the volume of A shares is getting bigger and bigger, the total market capitalization reached ten trillion or even tens of trillions of dollars later, the general social funds alone even if it is the institutional funds are more and more difficult to form that kind of generalized bull market. Even before the 2015 crash, even if the whole society is used to finance the means of capital allocation, it is difficult to form the situation of the rise of junk stocks.