The types of financial markets contained in the two are indeed overlapping, but in terms of significance, they are not comparable because they are not divided into two markets according to the same standard. Comparable to the capital market is the money market, and the standard for dividing the two is the liquidity of financial products in their respective markets. Markets that contain highly liquid financial products are money markets, such as money market funds and overnight lending markets, while markets where less liquid financial products are located are capital markets, such as stock markets, bonds and long-term fund markets.

The securities market is the general name of the market in which the underlying assets exist in the form of securities. Financial products in both the capital market and the money market can be said to belong to the securities market as long as they exist in the form of securities. However, financial products in capital market or money market are not necessarily in the form of securities, such as medium and long-term credit (including various medium and long-term deposits and loans), which exists in the banking system and does not belong to the securities market and securities system. However, from the perspective of its asset liquidity, it belongs to the capital market product. Another example is demand deposit and loan, which is a money market tool because it has high liquidity, but it does not belong to the securities market.

In short, financial products in the capital market may or may not belong to the securities market; Financial products in the money market may or may not belong to the securities market; The financial products in the securities market may belong to the capital market or the money market. Therefore, the capital market is not equal to the securities market, capital market+money market "; Securities market.