All financial reform policies and financial opening policies must be people-centered (e.g., they can increase employment opportunities, improve people's lives, and avoid the looting of savings and wealth by domestic and foreign financial capital); It must serve the strategic objectives of China's industrial modernization and national defense modernization, and must embody the spirit of the socialist organized market economic system. All financial reform policies and policies of opening up that may lead to the looting of the people's savings and wealth, all that are not conducive to industrial modernization and national defense modernization, and all policies that run counter to the principles and spirit of the socialist economic system must be withdrawn and replaced. In an increasingly severe international political and economic environment, we must rethink our past economic and financial policies. The short-selling mechanism of the capital market designed and introduced by us cooperated with the major stock market crash in 2015 and eliminated a large number of large and small investors; We encourage the development of the P to P Internet financial policy, so that the people have lost trillions of savings wealth; Our base currency issuance system and exchange rate policy have reduced the renminbi, as the sovereign currency of an economic power, to the shadow currency of the de facto US dollar banknotes, resulting in overseas financial capital being able to conquer cities in China. It is true that economic and financial policies have reached a point of rethinking. Only by seriously reflecting can we correct our course and reach the other side of victory. 
The core goal of financial policy is to realize the modernization of China's industry and national defense. To this end, it is necessary to clarify the criteria for industrial modernization, abandon all practices that take GDP indicators and urbanization rate indicators as development goals, and also abandon the practice of "pseudo-industrialization" of industrial zones and development zones everywhere from cities to villages. The criteria for industrial modernization are: the top three enterprises in China's major industrial sectors are domestic enterprises, not foreign capital; The key technologies, core components and industrial software of various industries are in the hands of domestic enterprises, and the industrial technological innovation capabilities of domestic enterprises and research institutions stand in the first echelon in the world; Through upstream and downstream industry penetration and capital penetration, local enterprises not only control the first-class channels of upstream raw materials and core spare parts, but also control the downstream product sales channels, and have the right to sell and price products; The economic added value created by various industrial sectors and the financial services sector is mainly attributed to domestic workers, enterprises and all levels in the form of wages, profits and taxes. Compared with the standards of industrial modernization, China is still far from a modern industrialized country. Although the introduction of transnational speculative capital, the promotion of land prices, the development of stock indexes**, and the conversion of farmland into industrial zones can increase the number of GDP and urbanization index, all these have deviated from the goal of industrial modernization and national defense modernization. If China always regards the realization of industrial modernization and national defense modernization as the core goal of its economic and financial policies, then China's lithography machines, chips, large aircraft and other industries will not be thrown out of the world's first echelon at that time and become the current industrial shortcomings, let alone the real estate minefield represented by Evergrande. 
In order to modernize its industry and national defense, China must adhere to the party's leadership and socialist economic system. This is because the Communist Party is a political force representing the fundamental and long-term interests of the country and the people, and the socialist economic system is the institutional guarantee for realizing China's industrial modernization and national defense modernization. The Communist Party is not a representative of a certain social interest group or a large capital force at home and abroad. This is the soul of the Communist Party. As long as it persistently represents the fundamental and long-term interests of the state and the people, the Communist Party will not lose its soul and will be able to prosper forever and remain young forever. The socialist economic system with Chinese characteristics is a product of a specific historical stage, and the content and characteristics of this economic system are embodied in the "socialist organized market economic system". In the market economic system jointly constructed by state capital, domestic private capital, and overseas private capital, state capital must play the role of guiding, organizing, leading, controlling, and providing assistance around the goals of industrial modernization and national defense modernization. Domestic private capital must not get out of control, let alone overseas private capital. We should be alert from the lessons of the runaway of domestic capital in the field of Internet finance and the runaway of overseas capital in the field of Internet big data application. 
Therefore, any economic and financial policy not only needs to meet the target requirements of China's industrial modernization and national defense modernization, but also accept the constraints of the strategic goals of industrial modernization and national defense modernization; Moreover, it needs to be conducive to strengthening the party's leadership, conducive to consolidating the socialist economic system, and accepting the constraints of the political system and the economic system. Only by adhering to the correct constraints on the target of productive forces and the correct constraints on the political and economic system at the same time can we ensure that our economic and financial policies will not deviate from major deviations, and can we ensure that China's economy will not fall into the precipice by repeating the mistakes of the former Soviet Union. In the face of changes in the international political, economic, and military environment, China's economic and financial policies have reached a moment where they must rethink, adjust, and pull back from the precipice. Under this historical background, it is particularly important and urgent to adopt the "goal-system-policy" analysis model and establish a three-dimensional evaluation system of "industrialization strategic goal-socialist system-economic and financial policy", evaluate various economic and financial policies, especially the policy of opening up to the outside world, and avoid subversive mistakes. (About the author of this article: Yu Yunhui, chairman of Lantian Academy, invited researcher of the World Socialism Research Center of the Chinese Academy of Social Sciences, distinguished researcher of the Center for Contemporary Capitalism Research of Zhengzhou University, member of the Academic Committee of the China Red Culture Research Association, angel investor and strategic consultant of Hongguobao Biotechnology).