With the continuous development of local economy, local financial industry is also growing, and local financial resources have become one of the very important factors in supporting the development of local economy. Local governments at all levels attach more importance to local financial industry and further enhance their management enthusiasm. At present, there are three patterns of local financial management in China: the authorization of the central government, the entrustment of the central regulatory authority and the innovation of local government.Why should we improve the local financial management system?1. The separation of power and responsibility between central and local financial supervision is not conducive to giving full play to local initiatives2. The unclear functions of local financial supervision are not conducive to improving financial efficiency3. Unified financial regulation cannot meet the needs of future financial reform and innovation4. Local financial management has certain implicit interference in local financial operationSuggestions on perfecting local financial management system1. Clarify the boundary between central and local financial supervision2. Divide the responsibilities of financial risk disposal between the central and local government3. Strive to improve local financial management4. Properly handle and grasp the conflict between the reform and the existing law
