Since early of this year, the outline of File No.107 on shadow banking regulations has been executed within the inter-bank businesses. On May 16, People's Bank of China, CBRC (China Banking Regulatory Commission), CSRC (China Securities Regulatory Commission) and China Insurance Regulatory Commission have collaborated with the State Administration of Foreign Exchange to jointly release the Notice of Regulating Businesses between Financial Institutions (File No.127). The Notice provides definition and specification of business types as well as accounting norms. ANBOUND research team thinks that since the financial risks are currently on the rise, the key to achieve systematic regulation, steady transformation and financial marketization lies on the combination of facilitation and restriction.