The year 2020 marks the 30th anniversary of China’s capital market，and it is also a crucial year for the deepening reform. Reform of the registration system for the Growth Enterprise Board was carried out smoothly at the Shenzhen Stock Exchange，and the coverage of the registration system for stock issuance，which centers on information disclosure，was expanded in an orderly manner. The ability of the capital market to serve China’s strategy of driving innovation has been significantly enhanced. Deepening reform of the capital market was carried out across the board. The new Securities Law was formally implemented，the market-based system will be further improved. The development of multi-tiered capital markets have be more standardized. The reform plan of the New Third Board has been launched in an all-round way，the tiered system is operating smoothly，and the multi-tiered market transfer mechanism is constantly innovating. Pilot innovation of new systems and products in regional equity markets has be accelerated. The two-way development of the capital market has be steadily deepened，and limits on the proportion of foreign investment is further lifted. At the same time，China’s capital market has made remarkable progress in risk prevention，such as stock pledge of listed companies and default of SOE bonds.