Abstract: In the early 1980s, the research paradigm of “financial system” was gradually formed, which takes financial development strategy, organization form, frame structure, construction mode, business division, supervision and management, operation mechanism, operation environment and overall effect as the research objects, the comparison method as the research method, and servicing the reforming and opening up, insisting on the subjectivity of Chinese thoughts and grasping China’s international speaking right as the value judgment. The establishment of the “Financial System” research paradigm not only provides theoretical reference for China’s economic and financial system reform, but also contributes to the birth of a sub-discipline of finance, i.e., the “comparative banking”. This is an innovative exploration and attempt of financial theory with Chinese characteristics at the beginning of reform and opening up.

Key words: financial system; research object; research method; value judgment; comparative banking