中文摘要：

虚拟经济与实体经济有着千丝万缕的联系，其发展规模是否适度影响着实体经济的发展是否健康。通过从资本市场效率的角度探讨检验虚拟经济是否适度的方法，并对中国资本市场进行实证分析，发现中国资本市场效率不高，虚拟经济规模呈非适度性，究其原因须作进一步分析。

英文摘要：

Fietitious economy has countless contacts with real economy and whether its scale of development is appropriate is really influenced the development of real economy is healthy. It is an appropriate method that this text tries, probing into and examining fictitious economy in terms of efficiency of capital market, and carry on real example of china to analyze the Chinese capital market, making the conclusion that Chinese fictitious economic scale is not appropriate because of the capital market＇s inefficiency, So we must analyse its reason further.