According to potential risk in securities market，such as issuer performance risk，underlying price change risk and the risk for securities price being manipulated，currently mainland China，Hong Kong and Taiwan respectively use emphatically supervising type，in advance supervising type and overall supervising type to control the risk，Taiwan’s supervision is much stricter than Hong Kong，the items which are supervised are more and the requirement for the supervision is detailed， practical and quantitative，however，the similar rules were implemented in Hong Kong years ago. With the perfecting of securities market，Hong Kong gradually changes the supervision from institutionalized supervision to self-discipline supervision，market-oriented supervision and elasticity supervision，from overall process supervision to in advance supervision，whose essence is that supervising items change，in other words，strengthening supervision and strict restriction in the items which should be continuously supervised，however，market-oriented supervision and legal enforcement for the items which should not be strictly should be used. Presently，securities market of mainland China is at initial stage， China should overall supervise all kinds of items and emphatically monitor some important steps.