Abstract:China's pawn industry has been rebuilt for more than 30 years,although it has achieved good business results,there are some misunderstandings about the theory of industry regulation,and the construction of supervision system is also inadequate. In theoretical cognition,there is a bias in the cognition of the financial institution attribute of the institutions. Also,there are some misconceptions in the establishment license and the name of the pawn. As for the regulatory system,specialized industry regulatory legislation concepts are antiquated,which unreasonably limits the business freedom of pawnshops. There are some problems like,the legislation style is not scientific,the design of individual system specification is conflict with other regulations,the deficiency of legislative technology,the incorrectly usage of legal concepts,remain to be solved. Through a comparative analysis of the adjacent department law legislation and the legislative experience of foreign countries,scientific pawn supervision legislation model should adopt a unified Pawnshop Law,expand appropriately the pawn business scope,regress financial supervision system,adopt a unified mode of centralized supervision and self-discipline supervision,and establish and perfect the legal system of pawn.