文章认为，在现代市场经济条件下，金融风险总是客观存在的，而金融危机则是金融风险累积到一定程度的产物。中国的金融风险与东南亚国家不同，它主要不是来自国际游资的冲击，或以银行为主体的金融体系向以金融市场为主体的金融体系转化过程中金融监管制度的缺陷，而是根源于传统的计划经济体制本身，并与转轨过程中财政货币政策有直接或间接的关系。因此，中国要防范和化解金融风险，一方面要加快制度性变迁，逐步消除金融风险产生的制度性因素；另一方面要制定适当的财政货币政策，并注意二者的适当搭配 The article holds that, under the condition of modern market economy, financial risk always exists objectively, and financial crisis is the product of financial risk accumulated to a certain extent. Unlike the Southeast Asian countries, China’s financial risk does not come mainly from the impact of international hot money or the deficiencies of the financial regulatory system in the process of transforming the banking-based financial system into a financial-based financial system, but from the traditional The planned economic system itself has direct or indirect relations with the fiscal and monetary policies during the transition. Therefore, China needs to prevent and resolve financial risks. On the one hand, it is necessary to speed up institutional changes and gradually eliminate the institutional factors that cause financial risks. On the other hand, we must formulate appropriate fiscal and monetary policies and pay attention to the appropriate mix of the two