This paper makes a systematic review and analysis of the development of China’s OTC market in 2013. The article suggests，at present the OTC market in China can be classified into four types：the national equities exchange and quotations approved by the State Council as a public shares market of non-listed small and medium-sized enterprises，regional equities exchanges to providing private financing and equity trading services for the regional company，securities counter market and private product price and service system inter agency. This paper discusses the hierarchical structure，market function of four type OTC markets，and give an analysis of Chinese OTC markets dynamic development；it also analyzes the opportunities and challenges of China OTC market development.