Ma On Shan, He Jia-hao Q: It is often used to determine the level of earnings risk of the market, then high earnings in general is more reasonable and stable earnings ratio is the hub of it?

• 马鞍山何佳浩问：人们常常用市盈率的高低来判断市场的风险，那么，一般多高的市盈率是较为合理的，市盈率中枢是否是稳定的呢？