First, we analyzed China's financial development from the perspective of the indicators of financial development, we think that China's finance has made rapid development since the founding of new China, whether from the historical vertical comparison or cross-border horizontal comparison, but there are more criticisms about China's finance. In such a realistic situation, how to evaluate China's financial reform? We evaluate China's financial reform from three dimensions. First, we compare China and Eastern Europe from the perspective of transitional countries. Second, we compare China and Latin America from the perspective of interest rate liberalization. Third, we compare China and the United States from the perspective of financial liberalization. Through the analysis, this paper holds that although it is generally believed that there are problems in China's finance, there are no major problems so far. Therefore, while we have confidence in China's economy, we should also have confidence in China's finance.To review the relationship between finance and economy over the past 40 years of reform and opening up, there are four points. First, we learn from the experience gained in the past 40 years of reform and opening up that we should insist on economic and financial symbiosis; Second, financial deleveraging will provide a stable financial environment for the steady growth of China's economy. Third, finance should be strictly supervised and it should go back to the fundamental purpose. Fourth, we need to use financial restructuring to comprehensively improve the ability of the financial sectors to serve the real economy. In the future, we should stick to this correct reform path to ensure the stable development of the financial and economic sectors.
