Core Viewpoint - The article emphasizes the importance of formulating a financial law in China to ensure high-quality financial development and to address systemic risks in the financial sector [3][7][9]. Legislative Plans - The State Council's 2025 Legislative Work Plan includes 14 laws for continued review and 23 laws for initial review, highlighting the focus on financial stability and the promotion of the private economy [2][5]. - Key legislative projects include the Financial Law draft, which aims to enhance the legal framework for financial regulation and support the overall economic strategy [5][6]. Financial Law Significance - The formulation of the Financial Law is seen as a critical step in advancing the rule of law in finance, which is essential for national governance and economic stability [3][8]. - The Financial Law is expected to integrate existing financial regulations, establish unified regulatory principles, and provide robust legal support for the sustainable development of the financial industry [8][9]. Legislative Pathways - Experts suggest that the Financial Law should be designed as a comprehensive legal framework that addresses both public and private law aspects, ensuring a balanced approach to financial stability [10][11]. - The law's development will focus on risk identification and management, aiming to create a legal environment conducive to innovation while safeguarding public interests [9][10]. Coordination and Consensus - There is a call for enhanced theoretical research and practical consensus on the Financial Law's legislative positioning and framework to facilitate its development [11]. - Establishing an efficient legislative coordination mechanism is crucial for the smooth progress of the Financial Law, ensuring effective communication among relevant departments [11].