2019 is the 70th anniversary of the founding of the People’s Republic of China. Positive progress has been made in financial reform and development. The financial system continues to deepen supply-side structural reform，maintaining a stable development trend as a whole. In 2019，China’s financial regulation system has made remarkable achievements in risk relief，institutional reform and structural optimization. The battle to prevent and resolve systemic financial risks has achieved phased results，and the risk level of major financial risks has declined to varying degrees，firmly holding the bottom line of no systemic financial risks. The financial services for real economy has made positive progress. The financial sector’s support for small and micro enterprises and private enterprises is more accurate，more diversified，and stronger，which provides a better monetary and financial environment for the economic development. The reform of the financial system has been deepened，and significant new progress has been made in the opening up of the financial market. The formation mechanism of the loan prime rate and the reform of reserve deposit requirement have been continuously optimized. The establishment of a multi-level capital market，supported by the opening of the STAR Market and the pilot of the registration system，has been continuously deepened. The supervision of governance structure and asset liability management has been strengthened. Novel coronavirus accidently out broken in 2020 and put essential pressure on financial stability in China and abroad. The financial reform and opening up will be guided by the requirements of high quality development and the main line of supply-side structural reform. The macro prudential and micro regulation coordination should be deepened. We should continue to relieve financial risks and effectively keep the bottom line，while increasing the financial sector’s support of fighting the new coronavirus pneumonia.