Abstract:W ith the constantly deepening of China’s financialmarket reform and constantly perfecting ofmar2 ket system and constantly comp leting of market resources allocation mechanism, it is very important to make quantitative study on the whole movement situation of China’s stock market and to evaluate operation effect of stock market. Based on the influence of stamp duty adjustment on the effect of the characteristics of the market volatility index and the average level of trading volume, this paper analyzes the impact of China’s taxation sys2 tem arrangement on stock market and gives suggestions on establishing and comp leting China’s tax system of stock market under p resent economic conditions.