Wenzhou, as well-known city as the most civil-led economy in China, had faced the economic difficulty since 2010 due to private-lending problems and industrial upgrade issues. Especially, private-lending with extremely high interest, which had prevailed among most citizen and small and medium company, led Wenzhou economy to financial difficulties. In 2011, Chinese government decided to designate Wenzhou as ‘Specialized District for Financial Reform’ in order to overcome ‘Wenzhou Private-Lending crisis’. During three years from Government’s decision, Wenzhou have performed most of the action plans according to ‘Financial Reform 12 Article’. Wenzhou’s financial reform influenced other cities in China to normalize the private lending system through the enactment of the financial laws established by local Government for the first time in China. In March 2015, Wenzhou also declared to start ‘New Financial Reform’ to implement its policy for financial reform continuously. The successful implementation of Wenzhou’s financial reform will be one of the barometers to decide the Government-led Financial reform in the future.

1. 머리말
 2. 원저우시의 민간대출 위기
 3. 원저우시 정부의 위기 대응 금융개혁
 4. 맺음말
 【참고문헌】
 【논문초록】

• 서석흥(부경대학교 경제학부) | Seo, Seok-Heung
• 민장환(동서대학교 경영학부) | Min, Jang-hwan