In recent three years，the scale of listed companies in Jiangsu Province has continued to expand，the total amount of direct financing has increased year by year，and bond financing instruments have also continued to increase. The business of listed companies in Jiangsu Province is mainly concentrated in the manufacturing industry. The development of the direct financing market still has problems such as unreasonable financing structure，low level of securitization rates，and uneven distribution of equity financing. This paper analyzes the status quo of the direct financing of listed companies in Jiangsu Province and the existing problems，combines the development experience of the direct financing market in developed countries，and puts forward corresponding policy recommendations for the development of direct financing in Jiangsu Province.