Abstract: The minimum spanning tree was constructed by using the clustering algorithm， which was used to study the topological structure of various industries. Based on the weighted network model， a dynamic weighted network model considering the characteristic of time variation was developed. Taking the SSE 180 index as sample， the market dominance of the Chinese stock market was studied. The empirical results showed that the Chinese stock market has notable aggregation， and the same industry stocks have similar characteristics. The finance/insurance and the manufacturing industry are relatively more active， and the prices of others are more susceptible to these two industries. The leading industry in the stock market will change with the time， and the emerging industry gradually dominates the overall industry.

Key words: industry dominance；clustering coefficient；minimum spanning tree, topological property, weighted network