The article discusses how China's securities market has evolved and the regulations governing it. It covers the development of the regulatory framework, the scope of regulation, the institutional structure, and the regulation of public offerings and secondary securities markets. It also explores foreign participation in China's securities market, the internationalization of the market, and the adaptation of foreign securities laws. The article emphasizes the importance of investor protection, the 1998 Securities Law of China, and the future development of securities regulation in the country.