In 2022，China’s stock market has unleashed endogenous vitality，financial regulators have provided timely assistance to stabilize market expectations，capital market reform has been steadily advanced，and high-level opening-up has continued to expand. Developed economies around the world have adopted aggressive interest rate hikes to cope with historic inflation，both Blue-chip stocks and technology stocks’ valuation has dropped a lot，only energy stocks are well-performed. The central government has continued to combine the strategy of expanding domestic demand with deepening supply-side structural reform，leveraged both the aggregate and structural functions of monetary policy tools，and ensured cross-cyclical adjustment. In 2023，the A-share market is expected to bottom out and stabilize. It is necessary to grasp the main direction of scientific and technological innovation，adhere to the green transformation of development mode and establish the bottom-line thinking to protect national security，to firm confidence in the long-term improvement of China’s capital market.