Abstract: After the completion of the power reform in Japan,the trading volume of the spot market increased considerably,and the market structure gradually improved.The power reform in Japan can be used as a reference for China’s spot market construction.In this study,we conduct an in-depth analysis of the structure and operation rules of the Japanese spot market,including the day-ahead market,intraday market,and equilibrium mechanism.We herein also analyze the changing trends of market subjects,market prices,and trading volume after the reform and subsequently summarize the problems in the reform process and solutions.Finally,we put forward the enlightenment and suggestions for the construction of China’s electricity market.