This study analyses China's experience upgrading its stock market from a frontier market to an emerging one. Through synthesis and analysis methods, the research focuses on elucidating the significant reforms and advancements of China's stock market, including improving the legal framework, market liberalization, diversification of financial products, and infrastructure development. The research findings indicate that these factors are pivotal in upgrading China's stock market. Consequently, the study proposes several solutions for Vietnam's stock market, including reforming the legal framework, enhancing market liberalization, diversifying financial products, and promoting the development of financial infrastructure in order to support the upgrading process of Vietnam's stock market in alignment with the Government's objectives.