Since the 18th National Congress of the Communist Party of China (CPC), it has become a fundamental task for financial work to prevent and eliminate financial risks, especially systemic financial risks. At the 19th National Congress of the Communist Party of China (CPC), prevention and resolution of major risks were taken as one of the three major battles. Preventing and defusing financial risks has become a major barrier that must be crossed for financial work to achieve high-quality development. In the past 10 years, Guangdong's financial regulatory authorities have taken many measures to address both the symptoms and root causes. Through systematic improvement, the financial ecology has been significantly improved. Guangdong's financial industry has firmly held the bottom line of avoiding systematic and regional financial risks, further improved the central and local coordinated financial risk prevention and control mechanism, established the awareness of "prevention first", and played a "first hand" in preventing and defusing financial risks. "Guangdong's experience in financial risk prevention and disposal has been highly recognized by the state." Lian Ping, Chairman of the China Chief Economist Forum, commented. Strictly supervise and firmly hold the bottom line of financial security: "Can we get loans through mobile phones without mortgage or guarantee?" Chen Yusheng, a villager in Qianmei Village, Chenghai District, Shantou City, is full of doubts about easy access to loans. Until a loan of more than 30000 yuan arrived, he sighed: "Now the bank has delivered the service to our door." This is the real feeling of the villagers from the "Rural Finance (Inclusive) Household Access" project of Guangdong Rural Credit Union, which has achieved 100% coverage of basic financial services in villages and towns in the province. Similarly, this is also a vivid footnote to the new vitality of the restructured Guangdong rural cooperative organizations. Previously, Guangdong successfully completed the task of restructuring the rural credit cooperatives to establish rural commercial banks in three years, disposed of 29 high-risk organizations in total, and defused the risk burden of more than 130 billion yuan. Before the reform, Guangdong's rural cooperative organizations were small, scattered and weak, with heavy historical burden and high non-performing loan rate. The development of rural cooperative medical institutions does not match the position of Guangdong as a strong economic and financial province, and even becomes a key area for preventing and resolving major risks. "By the end of 2020, the major regulatory indicators will have leapt from lagging behind the national average level to better than the national average level of rural cooperative organizations, and the regional business environment will be significantly improved." Pei Guang, Director of Guangdong Banking and Insurance Regulatory Bureau, pointed out that. Yi Xingjian, vice president of Guangdong Institute of Finance, said when evaluating the reform of rural credit system, the reform assistance was carried out in a market-oriented way, and efforts were made to improve the long-term mechanism for Guangdong's financial risk prevention and resolution. Behind the risk reduction cases such as the reform of rural credit system is Guangdong's unremitting efforts to prevent and resolve financial risks in recent years, firmly holding the bottom line of no systematic and regional financial risks, and constantly building a "firewall" for Guangdong's stable economic development. The outstanding characteristics of financial risks are extensive, infectious and spillover. In recent years, the forms of financial risks have become increasingly subtle and complex. Taking illegal fund-raising as an example, the number of cases, the amount of money involved, and the number of people involved were once high, and the difficulty of preventing and combating was gradually increasing. In response to a series of new challenges, Guangdong's financial regulatory authorities have achieved a fundamental transformation in recent years from a passive attack to an active response. The whole chain governance of illegal fund-raising has been continuously deepened, all 707 P2P online loan platforms have been withdrawn from the market, and a number of P2P platforms, such as Group Loan Network and "Xiaoniu Online", have been precisely dismantled and disposed of to realize private placement