This text divides four stages and investigates that it is over from World War II to analyze, development course of Japan's financial change until On this basis, the system has reviewed the main content of the financial reform of Koizumi government, reform financial regulatory ystem, adjusting the system of the financial policy, Hereafter, the leading impact on Japan's economic recovery of financial reform of Koizumi government of key analysis of this Increase national debts, derate, expand public investments, increase the expenditure of social Non-performing assets settlement completely of problem, dispel financial fragility of system, have strengthened the profit ability of the financial institution, thus established the good micro foundation for the economic The article analyzed and summed up experience and lesson of Japan's financial reform and proposed the enlightenment regarding China avoided following the same old catastrophic road