The financial system is developed from only one people bank in the beginning of the founding of the People’s Republic of China to the system of 12 classes through dozens of years’ reform. It includes: people bank, policy bank, national own commercial bank, regional and local bank, foreign charge bank (representative center), and credit cooperation of the rural and urban area, insurance, trust, finance, stock, futures organ and the mortgage center.
　　The bronco bank of Chinese People Bank of Hunan is founded in August 1949; the organ system of the bank is adjusted in the end of 1998. It rescinds the branch banks of the province and Changsha, and forms the Changsha financial supervising center and the central branch bank in Changsha. The function of the people bank is only the leading, management, check, supervising, and adjustment to the financial organs, and not to the units and personal financial affairs. The branch banks of Chinese Agricultural Bank, China Bank, Chinese People Insurance Company, Chinese Industry and Commercial Bank, and Chinese Constructing Bank fulfill these financial affairs. In 1999, the national development bank is founded, and it separates the policy financial business and found the policy bank. Several special banks become the national commercial banks. From 1987, there are 5 local commercial banks and foreign banks set branch banks in Hunan, and they are Communication Bank, China Merchants Bank, Fujian XingYe Bank, Guangda Bank and Wanbei Bank of Holland. The local commercial bank is found on the base of the city credit center in the four cities of Changsha, Zhuzhou, Yueyang, and Xiangtan. Apart from that, all kinds of financial systems develop very fast. By the end of 1998, there are 161 financial organs of trust company, financial company, stock company, future company and city credit center, and 110-village credit center. Now, a co-exist financial system is formed with the leading of national central banks, the main part of national commercial banks. The financial market develops fast; the financial supervising is becoming stronger. The financial macroscopic adjustment is changed to adjustment indirectly, and the function of the financial system carries out and is perfecting. According to the statistics, by the end of 1998 there are 11800 all kinds of financial organs with 120000 working staff, the total volume of RMB of all kinds of financial organs is 224,300,000,000 Yuan with 150,600,000,000Yuan of saving. The total for all kinds of loan is 227,400,000,000Yuan. The saving and loan for the foreign charge is 720,000,000 USD and 1,060,000,000 USD for each. The proportion of the saving and loan takes 71% and 73% of GDP for each.
　　The stock develops very fast in Hunan. It mainly includes the distribution and exchanging of the national debt, the stock for enterprise debt, and fund. According to the statistic, by the end of 1998, there are 24 companies on the stock market, the people who hold the account is over 1040000. The volume of business of the stock is 110,790,000,000 Yuan, and the volume of business of the fund is 2,130,000,000 Yuan, and the volume of business of the future is 34,900,000,000 Yuan.

　　 The insurance is developing. In 1949, the Changsha Branch Company of Chinese People Insurance Company was formed. Through the reform and development of dozens of years, it sets the branch companies for China life Insurance Company and Chinese People Insurance Company(insurance for property). According to the statistics, the total volume of the branch company of life Insurance company is 456,700,000,000Yuan. The Branch Company of Chinese People Insurance Company, which focuses on the insurance of property, has set branch organs in 14 cities and prefectures with over 130 counties in the province. The number for working staff is 3328. In 1998, the total insurance volume is 238,100,000,000 Yuan for 20000 enterprises, 140 families and 190000 automobiles of the province.
The tax has close relationship with finance. In dozens of years, there are many reforms in tax organs and the tax management which is carried on nowadays suit for the internal capital enterprises, foreign capital enterprises, foreign enterprises. The original production tax for agriculture, forest, tends, and aquatic products change to the tax for special product of agriculture and forest, and the slaughter tax. The specific contents are: ?the range of the adding up tax is enlarged. It takes the basic tax ratio of 17% and adds one level of tax of 13% and zero tax ratio. It carries on the regulation of discounting the tax according to the clear indication on the bill. To the small taxpayers that are with less annual selling volume, and without the perfect business accounting, they carry on the easy method of paying 6% of adding up tax according to the income. ? For the consume tax, to some few products which needs special adjustment and whose tax reduces a lot after reform, they collect consume on the base of adding up tax. They include cigarette, liquor, making-up, valuable treasure, motorcycle, car, and petrol and diesel oil. It takes tow methods of collecting of setting the value by volume and setting the ratio by price. ? The range for business tax includes labor, transfer non-shaped capital and selling fixed capital. There are 19 items for the tax. The lowest ratio is 3%. The entertainment has the highest tax, which is set between 5-20% by the local tax bureau. For the others, the tax is 5%. ? The external enterprises are carried on the adding up tax, consume tax and business tax, and get rid of the original industry and commercial tax. The income tax is 33% for the enterprises of national run, group, personal run and infernal enterprises. To the enterprises with low profits, it carries on two-favor tax of 27% and 18%. Regulate the item and standard of the income tax for the enterprises. For the personal income tax, adjust the discount standard of the personal income. For foreigners, it carries on the adding reduce standard by the State Council, and it carries on the discount, setting ratio, and collecting in different items. Apart from that, cancel the market business tax, living stock tax, special tax for burning oil, bonus tax and salary adjusting tax; cancel the estate tax for foreign staff of foreign enterprises and the license tax for ship and automobiles, and carry on united estate tax and ship and automobile tax. Increase tax ratio and tax volume properly. Begin to collect stock tax and heritage tax. The tax item of industry and commerce decreases from 38 to 18.
　　There are 5 stock organs in the province with 3 professional stock companies in it. There are 27 business centers in the province and 13 business centers in other provinces. There are 21 stock center, which are set by the trader out of the province, and there are 61 stock centers with 2000 working staff. The future market begins from 1992, and there are 25 future organs with 500 working staff now.