Financial market is a modern economic concept. Although China built a financial system covering many provinces in China during the Qing Dynasty, the function of this financial system was mainly limited to access and acceptance, and there were not many investment factors, which could not be regarded as the emergence of financial markets. The real formation of China's financial market should be counted from the appearance of modern banking and securities industry in the Republic of China. Since then, domestic wars have continued, political power has changed frequently, and the domestic financial market has developed very slowly due to the exclusion of capital during the planned economy period. Judging from the maturity of the domestic financial market, the domestic financial market is still in the primary stage.