This article through the comparison of the capital market from the main countries(regions),especially OTC market,combined with our country's market operation,as well as china's numerous small and medium-sized enterprise and economic development according to the reality of unbalanced,on the one hand,emphasize the construction of the regional market,on the other hand,in the OTC market and regional market system crystallize,and regulate the construction level,not only should pay attention to the traditional financing function,more should comprehensive function of the play. <<