Macroeconomic　theory　holds　that　there　is　a　close　relationship　between　the　volatility　of　stock　and　the　macroeconomic　cycle.　The　paper　calculated　the　annual　variation　rate　of　inventory　investment　(RII)　and　the　proportion　of　inventory　investment　accounted　for　total　assets　(RIA)　with　the　annual　data　of　Chinese　listed　companies　through　the　period　of　2007-2013.　An　empirical　study　was　carried　out　by　combining　RII　and　RIA　with　the　gross　domestic　product　(GDP)　and　the　inflation　rate　(INF).　The　results　show　that　there　is　a　positive　relationship　between　the　corporate　inventory　investment　and　macroeconomic　variables　in　a　few　years,　but　the　relationship　was　not　significant.　There　is　no　significant　correlation　between　the　corporate　inventory　investment　and　the　macroeconomic　fluctuation.