As the core of modern market economy, finance plays a key role in the national economy. Now, the financial innovation industry, with its power in reducing the transaction costs, improving the financial efficiency and effective distribution of financial resources, shows great impetus and constitutes as an important contributing factor as technical innovation in economic growth.
Since the 1980s, with the ever-increasing process of financial liberalization, the fast development of information technology and the rise of new markets, financial globalization shows an unconvertible trend for both the developed and the developing countries. In this background, financial innovation has swept the financial industry in foreign countries with the unprecedented scale and initiated the "revolution in financial services". Consequently, in different degrees, an essential change has taken place in the financial market, the financial system and the financial functional mechanism, which has exerted significant impact on the economy and society of different regions, countries and even all the world.
