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The book argues that the differences in the ability of novel coronavirus to infect and prevent and control lead to the inconsistency of global economic recovery and the difficulty of global policy coordination. Affected by inconsistencies in recovery and signs of rising inflation，it is expected that policies in developed economies will be appropriately tightened in the fourth quarter of 2021，which will have an impact on emerging economies. 2021 will still be a year of fragile recovery. On the basis of taking the lead in recovery，China’s economy maintained a development trend of seek improvement in stability，and the annual growth is expected to be 8.1 percent. The uncertainty of the epidemic，the inconsistency in the recovery process and policy strength of various countries have further increased the volatility of the global asset market，and the market value creation ability of China’s A-share listed companies in 2020 has been reduced. However，under the impact of the epidemic，the research and development efforts of A-share listed companies are still generally increasing，and traditional industries are also actively seeking new ways of development. In the first half of 2021，with the further economic recovery，the profits of listed companies have been significantly improved，and the innovation and development have been carried out along the major directions of the national “dual cycle strategy”，“dual carbon strategy” and “digital transformation”. The reform of China’s capital market registration system has been smoothly advanced，and the ability of the capital market to serve the real economy has been continuously improved.