In-Depth Analysis of Six Institutional Differences Between US Stocks and A-Shares: From Delisting Mechanisms to Shareholder Return Culture, Understanding the Underlying Logic of the US Market's Long Bull Run

Summary：The differences between US stocks and A-shares go far beyond trading hours. This article systematically breaks down the institutional logic behind the US market's long bull run across six dimensions: delisting mechanisms, trading rules, investor structure, shareholder return culture, index self-evolution, and regulatory protection, offering asset allocation insights and risk warnings for ordinary investors to understand the true sources of US market advantages.