ANBOUND senior researcher He Jun recently points out that the absence of successful listing by China's small-and-medium-sized banks during the last 8 years apparently reveals that the capital market remains imposing constraints on the small-and-medium-sized financial institutions. It also suggests the shortage of China’s financial market construction and the market-oriented reform. Promoting the reform requires pragmatic implement rather than a slogan on paper. Generally, opening the market access is one of the basic conditions.