China's OTC market is mainly composed of inter-bank trading market, national share transfer system for small and medium-sized enterprises (commonly known as the "New Third Board"), regional equity trading market, brokerage counter market, private equity fund market and inter-agency private equity product quotation and service system.

OTC market refers to the market formed by buying and selling securities through a large number of scattered securities counters and major telecommunications facilities of securities institutions such as investment banks. Sometimes called OTC market or OTC market, it constitutes another important part of the bond trading market. In terms of categories, the securities traded in the OTC market are mainly government bonds, and stocks account for a small proportion. As for all kinds of bonds traded, from the perspective of trading volume, national debt is the main one.

Because there is no centralized and unified trading system and place, these markets are collectively referred to as OTC market, also known as OTC or OTC market, which refers to the market where securities buyers and sellers bargain outside the exchange. It has no fixed place, and its transactions are mainly conducted by telephone, telegraph, fax and computer network. The securities traded are mainly those that are not listed on the exchange.