In 2007, China's futures revenue increased by more than 50%, but it still lagged behind the growth rate of China's share price. In 2006-2007, China futures price-earnings ratio tripled, reaching a fairly high level. However, it began to decline at the end of 2007 and 2008, which partly reflected that the high-yield growth required by the higher P/E ratio was unrealistic. China stock price peaked at the end of 2007, but now it has depreciated by more than half. During the same period, the futures return rate increased by more than 20% (although it had been declining in 2008 and early 2009 until this autumn). Therefore, the current futures price-earnings ratio has also fallen below the long-term average.