This book aims to analyze the financial reforms in China from an institutional view which is in fact a crucial theme to ensure the stability of reforms and growth in this emerging economy. After the Introduction which will make a brief review of the literature and a presentation of financial development， Chapter 1 will try to demystify the finance-growth ‘puzzle’ and the inefficiency of Chinese financial system in setting forth the Adaptive Efficiency and the rate of financial repression in China. Chapter 2 will analyze the financial institutions’ reforms in China， from banking system reforms to credit system reforms in focusing on governmental efforts for the accession to the WTO ; the non-performing loans， State-Owned Enterprises (SOEs) and Banks (SOBs) and the opening to foreign competition have also been expatiated. Finally， this book concludes in advancing policy recommendations without forgetting to mention the further research.