In this paper, we find that there are non-period cycles in China stock market and China macroeconomic respectively by means of R/S analysis.

• 本文通过R/S模型分析相关数据，发现证券市场和宏观经济波动各自存在非周期循环，前者平均长度约为17个月，后者约为17个季度，二者的波动呈现异动状态；