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The great changes in the world in the past century refer to both the world and China. As far as the world is concerned, what has changed is the pattern, order and system. As far as China is concerned, what has changed is strength, status and influence.The securities market plays an important role in stimulating the economy and can be regarded as the locomotive of the economy. The securities market has a positive impact on the economy through various mechanisms and functions. To promote economic development through the allocation of resources and structural adjustment, and to introduce favorable policies in the near future is to promote the effective flow of the capital market and help the structural adjustment and upgrading of the economy.Some people observe from a longer-term perspective, such as the 400-year changes since the Westphalia system, others mainly focus on the changes after the founding of New China, and so on. Different perspectives, different analysis focuses, and different conclusions are drawn, but: one thing is consistent, and our era is undergoing a historic and tremendous change.

In terms of the time focus of the last century in the world, researchers hold a variety of perspectives. To sum up, it should refer to the comparison of changes between the last century and this century, and to learn new things by reviewing the old ones. This time interval also includes the changes in the new Millennium.The securities market plays an important role in stimulating the economy and can be regarded as the locomotive of the economy. The securities market has a positive impact on the economy through various mechanisms and functions. To promote economic development through the allocation of resources and structural adjustment, and to introduce favorable policies in the near future is to promote the effective flow of the capital market and help the structural adjustment and upgrading of the economy.The securities market plays an important role in stimulating the economy and can be regarded as the locomotive of the economy. The securities market has a positive impact on the economy through various mechanisms and functions. To promote economic development through the allocation of resources and structural adjustment, and to introduce favorable policies in the near future is to promote the effective flow of the capital market and help the structural adjustment and upgrading of the economy.

The securities market plays an important role in stimulating the economy and can be regarded as the locomotive of the economy. The securities market has a positive impact on the economy through various mechanisms and functions. To promote economic development through the allocation of resources and structural adjustment, and to introduce favorable policies in the near future is to promote the effective flow of the capital market and help the structural adjustment and upgrading of the economy.In terms of the time focus of the last century in the world, researchers hold a variety of perspectives. To sum up, it should refer to the comparison of changes between the last century and this century, and to learn new things by reviewing the old ones. This time interval also includes the changes in the new Millennium.When we analyze and understand these great changes, we must keep in touch with the changes in China, keep pace with the times, keep learning and making progress, and seize the opportunities of the times to adapt to the rapidly changing society.