The report of the 19th National Congress of the Communist Party of China proposes to improve the dual-pillar regulation framework of monetary policy and macro-prudential policy，and deepen the reform of interest rate and exchange rate marketization. Improve the financial supervision system and hold the bottom line where systemic financial risks do not occur. The reality of China’s financial development and reform objectively requires major reforms in the financial regulatory system. The capital market will inevitably make adjustments and establish a new regulatory system that is compatible with macroprudential supervision. In 2018，the securities regulatory authorities focused on maintaining capital market stability and various types of risk prevention and resolving work，and continued to deepen the basic system reforms such as issuance and mergers and acquisitions，share repurchases，employee stock ownership，corporate governance，and delisting，and comprehensively accelerated capital. The market is open to the public. Under the Financial Stability Coordination Mechanism led by the Office of the Financial Stability Development Committee of the State Council and the People’s Bank of China，securities supervision strives to resolve various market risks，maintain the operation of the capital market，and promote the reform of various regulatory systems.