Through variance ratio test, we find the Chinese warrant markets do not reach weak form market efficiency, and simple trading rules of technique analysis prove some kind of efficacy.

通过方差比检验，我们发现中国权证市场不具弱有效性，简单交易规则一定程度上能在权证市场中有效预测。

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Besides reclassification of weak form efficient market, the text carries on empirical research about efficiency of our securities market.

本文的重点除了对弱势有效进行分类之外，还基于新建立的分析体系对我国证券市场效率进行了实证研究。

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Reclassification of weak form efficient market and setting up a new analysis system can make effective and rational research to the poor efficiency of the new developing securities market.

对弱势有效的分类，建立一个新的弱势有效分析体系，能对新兴证券市场的低效率进行有效而合理的评价。

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