Huang Yiping, deputy dean of the National Development Strategy Research Institute of Peking University, said on the 13th at the Sohu Finance Summit in 2019 that financial innovation and reform are imminent. On the one hand, the development of multi-level capital markets is very important, and the development prospects of capital markets are optimistic. On the other hand, indirect financing is still a financing channel that plays a leading role, and the reform of traditional financial institutions is very important. In the next step, we should summarize the good experiences in digital financial practice and provide new ideas for solving financial support for real economic problems. Huang Yiping believes that the digital financial method can be effectively extended to the traditional financial field and promoted to traditional banks and traditional insurance companies. This will greatly help solve the problem of private enterprises' financing difficulties and expensive financing, and China can be at the forefront of the world. It is worth noting that Huang Yiping emphasized that any financial activity should be placed under the regulatory framework. The core is to grasp the balance between innovation and stability, which is also a challenge to the regulatory authorities.