Before 1992, all materials in China were allocated by the state plan, and the consumption of ordinary people was determined by the votes. From 1992, we gave up all the tickets, and China entered the first year of monetization, so the currency increased greatly. At the same time, China began to liberalize the three markets that can absorb money most-real estate, futures and securities, which promoted the high economic growth of China. This process actually turns physical assets that were not monetized in the past into. How many physical assets do we have? Now there are about 200 trillion; How many financial assets do we have? About 150 trillion; It is a so-called debt asset of 20 trillion yuan, and the relative proportion of debt is still the least, so we say that it is a positive pyramid structure with a huge material asset base.