Deepening the reform of the commercial system is a major decision made by the Central Committee of the Communist Party of China and the State Council. The article summarizes the great practical significance，main policies and effect achieved in promoting the reform of the commercial system in Guangzhou，and analyzes in depth the potential legal risks，management and liability risks，credit risks，and moral risks of the current Guangzhou commercial system reform. We will systematically propose countermeasures in areas such as creating a regionally integrated commercial system，accelerating the process of commercial legislation，and constructing a scientific regulatory system.