The national financial working meeting of the short-term policy orientation definite, also identified the long-term reform principles. In the meeting on market anomalies, on the one hand, China's economic prospects are unclear, on the other hand is market relying too much on policy. However, the meeting to the outside world a positive signal transmission, outstanding reflected in two aspects: one, emphasize the financial service entity economy; Two, emphasizes reform follow market allocation principles. Encourage increased after "property income" formulation, the actual thrusting the Chinese PangShi scam. The government spam currency, residents "property income" increase was not rely on output efficiency ascension, but in the subsequent investors constantly monetary investment, the bubble economy not only great risk, and lead to the entity economy shrank. Solid economic downturn, especially small and medium-sized enterprise by the financing difficulties and into business fronts,baseball sunglasses both for policy and economic environment compelled, also for financial system tired. Therefore, the financial system to efficient service entity economy, in addition to the policy guidance, need more to system reform. Although reform information is clear, but reform schedule not specifically, so public opinion when positive called for speeding up system reform. In view of the particularity of 2012, system reform or can only slow progress. But because of the economic transformation to domestic demand and growth from the government leading to consumers leading change, financial reform or was forced to speed up. Market economy is an important characteristics professional people do a professional matter, embodies in the credit markets for a small business credit need professional small institutions to provide. That depends on the political mobilization movement type credit supply, not only will not help solve economic entity of financing problems, and will leave new sequelae. Therefore, financial support to the real economy core is not the policy change, but in the system established. Deregulation, open markets, adhere to the financial liberalization road, establish a diversified market system, is the final direction financial reform. Just for market opening sequence, and open in opening to yourselves, market-oriented interest rate should be better than the liberalization of capital. First of all, let go of financial access is the foundation. Control is Chinese characteristics, not only the financial sector exclusive control, other areas the government intervention also is everywhere. Deregulation should be embodied in the agencies for, in addition to encourage financial institutions equity diversity, more should let go of folk small and medium sized financial institutions of the establishment of control. At present the important feature of the difficult economic entity is difficult financing for small businesses, although big bank credit policy to tilt to small businesses, but based on the bank's information and cost constraint, only depending on the policy stimulus enough to solve the difficulty in financing for small businesses. Long-term solutions to the financing bottleneck, they need to relax the financial control, encourage private capital for small businesses founded the major financial institutions. Countries practice has proved, community Banks more can effectively resolve the financing for small businesses the information asymmetry problem, so the large scale development of community bank support is an important step in the real economy. Relax controls also should be embodied in financing management. Small businesses in the development initial period, often need to endogenous financing, its characteristic is to relatives and friends and acquaintances social lending and funding, but China will now folk funding as illegal, largely on small businesses to suppress the capital source, the future reform should be in the folk pooling money to improve. Although funding the risk is bigger, but if be legal system of clear, investors can own risk, RongZiRen information transparency, fund-raising way can moderate release, this great ease small businesses in the early years of the development funds hunger problem. And in direct financing, small businesses should also start the bond market timely. In the public financing issues, the CSRC shall give up as soon as possible system, deeds this reform might as well start from the start of the gem. Second, the reform is the key factor pricing. China's rapid economic growth benefited from the elements distorted the price, but it also lead to resources allocation efficiency is not high, thus elements pricing system reform is imminent. On the financial sector, interest rate and exchange rate decided to market changes into the reform points. Interest rate marketization and request market liberalization, on the one hand, to let go of capital price, on the other hand to relax access control, and finally form of market supply and demand by the capital market interest rate decision system. In view of the interest rate marketization involving state-owned bank existing interests, but also to bank regulatory ability put forward higher request, therefore, interest rate marketization fears for the financial reform main difficulties. Because the yuan rise more quickly cycle nearly over, recently exchange rate fluctuations in two-way, the yuan appreciation expectations one-way being broken, and therefore, exchange rate reform for take this opportunity,NBA Hats let go of range, which can lay the foundation for the floating exchange rate. Third, the capital market opening-up is a big dinner. Opening up the core is the capital of free convertibility under and financial investment liberalization. At present the RMB internationalization has just started, neighboring countries began as a trading currency RMB, but let the yuan development to reserve currency, need to be opening up of the capital market. In the yuan freely convertible before, on the one hand, can develop offshore RMB market, on the one hand, outside the renminbi assets shall be allowed to enter the domestic market to maintain and increase their value. RQFII can be treated as capital market opening-up first step, but the capital market is fully open must be established in the internal market liberalization basis. McKinnon, given the optimal order is, first is balance financial, namely, to establish effective tax system, ensure the fiscal revenue for the government, and eliminate the deficit; Second is to open its domestic capital market, eliminate inflation, to keep interest rates are; The third is the liberalization of foreign exchange; The final event is the capital market opening-up. McKinnon last open capital markets that the reason is, "in domestic lending the equilibrium interest rate, according to freedom domestic inflation under control, that ongoing exchange rate cut no longer when necessary, allow the free flow of international capital to be have the arbitrage conditions". Financial liberalization need to step by step, but financial reform and system construction is required to race. There is reason to believe that China will be able to avoid KongXinHua industry, of course, the hope is that the reform and perfect the system. 
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