Recently, regulators are seen talking about opening-up the bond market, which is significant in this period of time. On the one hand, it is helpful to digest the excess capital accumulated in the process of urbanization in China; on the other hand, it is beneficial stability of renminbi exchange rate. However, the Central Bank has not mentioned the issues of long-term oversight of China's bond market, inter-bank market and exchange market fragmentation and rigid redemption. As the important role of bond market development in solving the capital surplus and promoting the development of financial market, China should make practical changes in solving the structural problems of the bond market in the future and lay the foundation for the development of the bond market.