In the first quarter of 2004, the real estate market in China witnessed a continuous boom with the sale price hiking by 7.75% year-on-year.

The major approach of capital input into science and technology in China has been the earmarked loans for science/technology.

In 2003, although there were no new products introduced in China's futures market, it still grew rapidly based on tapping its internal potentials and made a historical high in terms of trade magnitude.

The article introduces the development process of the multi-level stock market in terms of NASDAQ and the one in Taiwan and analyses the main reasons for the absence of a multi-level stock market in China.

Since 1978, the development of China's foreign trade and FDI has not only provided great amount of capital but has also become a major source of foreign exchange reserve.

There have been several phases in new stock pricing in China's stock market, namely, fixed price, invariable price/earning ratio price, cumulated bidding pricing, and price on controlled price/earning ratio.

The limitations of China's regulatory system on new stock issuance is shown in the fact that no fundamental changes have taken place in the traditional thinking on regulations characterized by substantial verification and value judgment under the authorization system.