The recent fluctuation of the Chinese capital market is rather uncommon. Anbound researchers believe that this shows that China's capital market is still lack of certain criteria, including those of policy, market and investor conditions. To make the capital market fulfill these criteria, it would involve in the capital market policy, supervision, business, investors, intermediaries and other aspects of the system; the most crucial thing is that the policy and the regulation aspects. The policy aspect refers to the policy design should be rational, its information should be transparent, and its execution should be clear and strict. The market criteria should be development through encouragement and through legal regulations.