The reform of the Chinese financial sector is in progress. According to Zong Xu, the head of the Central Bank's research bureau, the current chaos in the financial market is the reflection of problems in the physical economy and the entire system. The blurring boundary between the market and the government is the part of the system that causes the current financial chaos. At the beginning of the reform, there was only collective credibility instead of personal credibility, which means "the larger your stamp (authority), the better credibility you have." This kind of authority-based credibility assessment eventually replaced the market -based credibility with power -based credibility.