Achievements of China's Financial System in the Past 40 yearsAfter 40 years of reform and opening up, at this stage, China's financial industry has formed a system pattern with banking, security and insurance as the main industries, commercial financial institutions, policy financial institutions, and Internet finance as the supplement, and comprehensive and healthy development as the goal. The proportion of added value of financial service industry is increasing, and the proportion of the added value accounts for GDP has increased from 2.08% in 1978 to 8.22% in 2016. At present, China's financial industry presents the characteristics of diversification of financial institutions, efficiency of financial market and legalization of financial system.Experiences of China's Financial System in the Past 40 years 1. Seek development opportunities through reform to achieve opening-up.2. Promote competition through opening up to force reform.The Future of China's Financial System’s Reform and Opening up1. The reform direction of financial system is to serve the development of real economy.2. The opening direction of financial system is to dock with international financial system.
