In 2016，China continued to construct the rule of law in the securities market in the dimensions of construction of the legal norms group，implementation of laws，and market supervision. The reform of the registration system had remained to be the core of the revision of the Securities Law，normative legal documents continued to reflect market demands in a speedy and timely manner，and relevant judicial practice progressed steadily. There had been major changes in the securities regulation system in terms of the method，emphasis and dimension of regulation. The system had been transformed from the one that “regulates indices” to the one that “regulates behaviors” and the regulation had become stricter and been able to better respond to demands of the development of multi-level market. All these had been the results of reflections on the “Chinese-style supervision”. In the year 2017，China still needs to further improve the securities legal system in the two dimensions of legal text and implementation；supervisory organs need to attach more importance to self-improvement and self-restraint while at the same time raise their own position and voice in the international financial regulatory system，further strengthen the restraint on the activities of listed companies，securities companies，and other subjects of the securities market，so as to lay a sound foundation for the reform of the registration system.