Abstract:The paper makes an empirical analysis, with the method of test for sequential autocorrelation, of whether the convertible bond market in our country has assumed the weak form of efficient market, using as samples all the 31 convertible bonds in Shanghai and Shenzhen Stock Exchanges. And the paper proposes the concept of price function and investment increment, and includes that it isn't confirmed whether the convertible bond market of our country presents weak-form efficiency.