Abstract
The Chinese financial field was opened wholly, after waiting formany years , the foreign banks can bring their advanced operational and service productsto Chinese consumers,and compete with China commercial banks in every field in 2007. In orderto win the competition,and carry out the sustainable development,it is impending forChina commercial banks to promote the development of the financial innovation. Through the analysis of the present situation of financial innovations of China commercial banks thoroughly, it is pointed out that there are thecharacters of financial innovations of China commercial banks and problems in both of the financial supervision and operation of commercial banks. Concerning supervision ,thereform of financial institution should be deepened,the financial supervision should be innovated and the interest rate should be promoted; secondly,as for commercialbanks ,they must have correct ideas of financial innovations,perfect the internal controlsystem and the operational institutions,and strengthen the service and technicalinnovation. Then considering the risk control, it should probe business innovations activelythrough emphasizing the intermediate business、assets securities business and mixed operation.