Taiwan OTC market mainly provides service of financing and transfer of shares for non-listed companies,as well as nurture listed companies for Taiwan Stock Exchange market and OTC Market. Market construction and system innovation reflects the successful integration of legal practice in the localization and internationalization features. By contrast,the construction of the legal system of the mainland low-level capital market lagged conservative threshold to enter the market,the market maker system,trading mechanisms,disclosure mechanism,transfer board and delisting mechanism should learn from Taiwan OTC Stock market innovative ideas and legislative technique to avoid detours in the construction of multi-level capital market. <<