Correlations，nonlinearity and adaptability have been presented by empirical studies during the de-velopment process of China’s financial markets． This paper mainly investigates a complex system consisting of the money market，the securities market and the foreign exchange market． It aims at characterizing the evolu-tion mechanisms regarding the structure，action and function of the system and thus managing the complexity． This paper not only illustrates the relationships between those mechanisms and the systemic characteristics of complexity，but also builds a generic framework of models and applies it to the financial bubbles of stock mar-kets． The three-body“bondage”model capturing the correlations is proposed to describe the complex relation-ships between the sub-markets． A nonlinear dynamics model based on the Langevin equation divides the non-linear actions into endogenous and exogenous ones． The feedback model describes the evolutionary paths and the dynamic adaptive ability in the realization of market functions． Combining the resulting spatio-temporal structure of China’s financial markets，a macro management framework coping with complexity is finally built in terms of the environment，composition，association，evolution，stability，and risk management．