Inside information is the core of insider trading . Therefore,establishing the standards of securities inside information is the key to defining the act of insider trading . The standards of confirming insideinformation shouldinclude three major elements :non-publicity,preciseness and materiality . Such standards in our country appear to be impeccable but defective actually : non-publicity is too general;preciseness is still unestablished;materiality is comparatively vague . The reconstructive standards possess the same elements but need to be reified : non-publicity and preciseness from the perspective of a qualitative screening as well as materiality from the perspective of the scope . Non-publicity should adopt the form combined with substance asking for period of market impound;preciseness should emphasize the importance of information source and content;materiality should choose the more practical criteria of″rational investors″at present.