| There are numerous research papers on the theories and strategies in the area of multi-functional financial service in home and abroad. Trying to create a breakthrough, the author of the paper will analyze the reform in China from the perspective of financial function theory. In accordance with the finance function theory, the functions of financial service have not been changed greatly. However, the financial system, which is the entity through which the functions work, has never stopped developing in varied countries and varied economies.The paper will combine the practical experience of China and some foreign countries in the financial system reform with the finance function theory. The author believes that the multi-function financial service reform in China should be supposed to pull down the obstacles dividing the sub-industry of financial service in order to expand the space for the financial function development.The article firstly states the basic theory of financial function theory and analyze the development history of the financial systems of China and some foreign countries. By the analyzing, the author tries to prove that multifunctional financial system provide a mechanism base for the full play of financial functions. After that, the author also analyses the problems of China's financial system which have been caused by divided market structure. In this part, the author tries to prove that the multifunctional service reform in the financial service industry is to abolish all dividing factors. The final goal of the reform is certainly to push the general economy ahead. Then, the author describes the current situation of the multifunction reform in China and points out that the model of financial holding company will be the proper choice at this stage. Finally, the author also acknowledges some issues deserving special auction. The creation of the paper is to analyze the multifunctional reform of financial industry from the financial function perspective.
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