In 2019，institutional innovation has promoted the orderly and healthy development of China’s stock market，and remarkable results have been achieved in financial reform. A-shares have been successively included in important international indexes and continued to expand. The achievements of supply-side structural reform need to be consolidated. Major economies around the world have resumed loose monetary policies. Overall liquidity is reasonable and ample. In 2020，the supply of A-share market is expected to be continuously optimized，the internal stability of the market will be effectively enhanced，the expansion of opening up will strengthen the main line of value investment，the market driven by innovation will welcome the first year of science and technology，and the upgrading of consumption will brighten people’s better life. The prospect of China’s stock market is worth looking forward to in the middle and long run.