Therefore, the paper suggests that CAPM is ineffective and the asset pricing depends on multi-factor model in Shanghai A-share market.
因此，在上海A股市场，CAPM失去了有效性，资产定价可以由多因素模型决定。
Competition has grown especially fierce in Shanghai, China's commercial capital, where China Eastern claims a 36% market share.
在上海这个中国的商业中心竞争尤其激烈，总部就设在上海的东方航空称自己在当地占有36%的市场份额。
Many Asian clients will have been caught out by the sharp falls in local markets last year, with the Shanghai a share market dropping by 65%.
许多亚洲客户因去年本地市场的急剧下跌而饱受颠簸，上海A股跌了65%。
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