GEM is the exchange market with characteristic of government-run; OTC market is self-organizing market. GEM services in the "noble enterprise"with high barriers to entry,high listing cost,large-scale financing through public offering,high issue price,and also high financing costs,complicated procedures,long cycle,poor flexibility. There is a paradox in GEM between its strong function of resource accumulation and low efficiency of resource allocation; OTC market serves the "common enterprise"with low barriers,low listing cost,small-scale financing through private placement,low issue price,and also low financing costs,simple procedures,short cycle,high flexibility. Though its resource mobilizing capacity is worse than the GEM market,but its resources allocating efficiency is very high. <<