Adhering to the Principle of Opening up and Accelerating the Development of Financial Industry

The author points out that the opening up policy of China,s Financial Industry is becoming more transparent, and steps taken in opening up are becoming more stable and orderly. In Banking Industry, geographical limitation and business limitation has been canceled. In securities industry, undertakings concerning the opening up of securities industry has been strictly implemented. In insurance industry, an all round opening up has been realized. In financial market, opening up has been vigorously expanded. The author puts forward that the opening up of financing industry has brought us with advanced financial technology, the pattern of service and new idea of financial product design; and it has accelerated the innovational process, for example, first, it has promoted the innovation of domestic financial organization system; second, it has promoted the innovation of financial product and provided the investors with more choices; third, it has promoted the innovation of financial trading tools and modes; fourth, it has promoted the innovation of product and exchanges in the foreign exchange market; and fifth, it has promoted the innovation of financial service idea and means.