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On Dec 8th, 2003, the top price levels showed in the limit order book were enlarged from three to live in Chinese stock market, and the transparency was largely increased. The paper studies on the contribution of every quote price to price discovery, and compares with contribution of before and after transparency was increased. The results show that there exists significant difference of information share of limit order book before and after the transparency was increased. The fourth and fifth price level in the limit order book have marginal information content, that is to say, the improved transparency are valuable for investors and enhance the price discovery process.