Guided by policies of stability and progress in financial regulation，China’s capital market opens up in an orderly way in 2018 and the threshold for foreign investment in the financial sector has been greatly lowered. A-shares are included in MSCI. China’s stock market looks for the bottom in the clearing. It is a long way to go for the supply-side structural reform to promote the high-quality development. The normalization of monetary policies of major developed economies is the same as expected. The China-US trade conflicts bring pressure to the market. The aggregate liquidity remains reasonable and stable. Monetary market and credit market polarize. We should neither be too optimistic nor pessimistic about the A-shares market in 2019. It is highly possible that the “market bottom” will appear and the spring of Chin’s stock market will be in the near future.