Abstract: Looking back on the development process of the founding of the People’s Republic of China in the past seventy years, China’s finance has undergone tremendous changes in terms of its nature, function, total quantity, structure, etc., and has experienced six stages: initiation and consolidation, tortuous development, exploration and reconstruction, fission and subdivision, breaking away from the real to the virtual, and promoting the real economy and preventing financial crisis. From them, great achievements have been made and helpful experiences have been explored, which have played a major supporting role in the prosperity and stability of China’s economy and the improvement of people’s living standards, and have had an important impact on China’s economy and society. Following the historical evolution path, the degree of opening to the world in the financial industry will continue to expand in the future, the economic power of the financial service entities will be greatly enhanced, new financial modes and patterns will be developed rapidly, while the financial risk prevention should be further strengthened. Focusing on the direction of financial development in the new era, we should also actively respond to the trend and ensure the stable and healthy development of the financial industry.

Key words: 70 years of the New China; financial industry; development process; contribution of times