Compared to Market in the field,OTC Market,one organic part of multilayer capital market,has some different characters. Debate and choice on the way of OTC market develpment in China,in essence,are the choice of different supervision modes.To some extent,supervision mode not only impact but also determine the structure and formation of OTC Market in China.In the paper,the author proposal China to take one supervision mode which is total-part combination,definite labor division,respective function,and department cooperation.Besides,this mode should be mutil-level and progressive.To the end,he emphasises the important supervision role of Local government in regional OTC market constrution. <<