The Third Plenary Session of the 18th CPC Central Committee has made an outline for comprehensively deepening reform in China. Financial reform，as part of the overall reform，plays an important role in enhancing efficiency of resource allocation and accelerating economic restructuring. The paper points out that China’s financial reform will follow the decision of marketization，and four approaches will be adopted including opening-up of the financial system，perfecting the multi-layer capital market，interest rates liberalization and marketization of exchange rate.