To avoid falling into the misunderstanding of financial openness, it is necessary to correctly handle the relationship between financial openness and capital account management, RMB exchange rate management, regulatory systems, and policy coordination. It is necessary to establish a complete capital flow mechanism and an effective risk management system, adopt some flexible RMB exchange rate measures, establish an effective supervision system and a supervisory team with mature experience, and steadily promote the marketization of RMB exchange rate.Several specific suggestions are put forward on the relevant work during China’s financial openness. First, accelerate the improvement of the competitiveness of China’s domestic banking and financial industry. Second, form and establish a complete, specific and effective financial regulations and legal system as soon as possible. Third, an effective and comprehensive China’s financial risk monitoring and supervision system should be formed as soon as possible. Fourth, increase the transparency and uniformity of China’s financial information release. Fifth, cultivate a group of financial talents with practical experience.
