The economy increases steadily in 2013, and the main motivation is the aggregate financing to the real economy which stands for financial expanding, but price indexes data has shown that the real economy is in situation of stagnation and drawing back.From the aspect of expense, investments are mainly in infrastructures and real estates, but consumption is in downturn and recovery of exports could not sustain.Besides the financial expanding, the real economy is drawing back, the enterprises have high debts and finance is disabling.They can be seen from the high debts of non-financial enterprises because of financial expanding, the differences of assets returns and financial enterprises.Influenced by distorted interest rate because of local government and real estates, the cost of debts is increasing and operations are more difficult.The inconsistence of real economy's drawing back and financial expanding highlights the structural contradiction in economy of China.So the financial system should elaborate the function of allocation of resources but not the function of monetary stimulation and self-circulation.The transformation paths in the future mainly include transformation of governments, supply mechanism, balance between macro economy stable policies and structures, and financial system. <<