The types of market systems include living capital market, production means market, labor market, financial market, technology market, information market, property rights market, real estate market, etc.

Function: They are interconnected and restrict each other, promoting the development of the entire social economy. Cultivating and developing a unified, open, competitive and orderly market system is a necessary condition for establishing a socialist market economic system. In short, the market system is an organic unity of various types of markets that are interconnected.

To give full play to the fundamental role of the market mechanism in resource allocation, the market system must be cultivated and developed. The market system includes commodity markets and factor markets. The commodity market includes the market for consumer goods and the market for means of production. Factor markets include capital market, labor market, real estate market, technology market, information market, etc.

The market system has the following basic characteristics

1. Unity

The unity of the market system refers to the market system, both in terms of composition and space. All are complete and unified. From a composition point of view, it includes not only the general commodity market, but also the production factors market; not only the spot market, but also the futures market; not only the wholesale market, but also the retail market; not only the urban market, but also the rural market, etc.

From a spatial perspective, various types of markets are integrated across domestic regions and should not be administratively segmented or closed. The segmentation of the market by departments or regions will reduce the size of the market and restrict the free flow of resources, thus greatly reducing the efficiency of the market.

2. Openness

The openness of the market system means that all types of markets must be open not only to the domestic market, but also to foreign countries, linking the domestic market with foreign markets, and trying to Participate in the international division of labor and international competition as much as possible, allocate resources according to the price signals provided by the international market, and determine the direction of capital flow to achieve the purpose of more rationally allocating domestic resources and utilizing international resources.

On the contrary, a closed market system will not only limit the development of the market, but also affect opening up to the outside world and the use of international resources.

3. Competitiveness

The competitiveness of the market system means that it encourages and protects equal competition among various economic entities. Fair competition creates a good market environment to promote the reasonable flow and optimal allocation of production factors and improve economic efficiency. All administrative closures, industry monopolies, and unfair competition will harm market efficiency.

4. Orderliness

The orderliness of the market system means that as a developed commodity economy, the market economy must form a sound network and reasonable structure. All must operate in an orderly and standardized manner under the requirements of national laws and policies. Market disorder and disordered rules are serious obstacles to the normal operation of the market economy. It will damage the efficiency of the entire social economy and easily lead to anarchy in social and economic development.