The Shanghai bull run verdict

Helen Zhu, head of China equities at BlackRock

The market rise reflects confidence in the government's reform agenda

The bull run could last another 3 to 5 years

Chris Weston, chief market strategist, IG

The market does not reflect the real economy

The rise has been fueled by central bank liquidity

Gary Liu, executive director of CEIBS Lujiazui Institute of International Finance in Shanghai

Some smaller companies could be heading toward an Enron-style collapse

Poor auditing of companies seeking IPOs

Frank Tian, investment manager, Aberdeen International Fund Managers

Market could be on prolonged upward trend

Government move to lower interest rates sparked bull run

Hao Hong, chief China strategist of Bocom International Holdings

Small company 100 plus PE ratios signal alarm bells

The market needs more money to sustain it than when it crashed in 2007 since it is five times bigger

Chen Xingdong, chief China strategist at BNP Paribas

Bad economic news is having no effect on the market

Sentiment is upbeat and investors are confident

Zhu Ning, deputy director of the Shanghai Advanced Institute of Finance

The government is happy for the market to rise since the real wealth effect can boost the economy

Lack of investor sophistication a major worry

(China Daily European Weekly 04/24/2015 page7)