China's mainland stock market investors are literally laughing, all the way to the bank. The Shanghai and Shenzhen Stock Markets have gone off-the-chart in recent months, sending corporate valuations to record highs. The financial authorities are allowing individual punters to open some 20 accounts per person, a clear signal that the market is getting strong government backing. The Chinese property market, a main avenue for Chinese individual investors, is losing steam. That adds more to the attractiveness of the stock market as an alternative for investment.

But will this market continue to be bullish? As the economy slows down, can the stock market better its role in serving the real economy?

Ni Hao, you're listening to People In the Know, presenting you with insights into the headlines in China, and around the world, I'm Zheng Chenguang in Beijing.

We speak toProfessor Ouyang Liangyi with Peking University's HSBC Business School.

最近几个月，中国大陆股票市场一路高歌，大盘屡创新高，投资者们纷纷加入炒股大军，但是目前中国经济发展缓慢，股市的繁荣会真正地促进中国经济的发展吗，中国股市会一直上扬吗？ 北京大学汇丰商学院EMBA项目主任欧阳良宜教授就此问题接受了国际广播电台的采访。点击阅读原文为采访音频，继续点击音符播放音频，建议在wifi环境下收听：