The marketization, internalization and electronization of financial industry in China are inevitable. Adapted to this situation, the financial supervision has to be strengthened. The modern financial supervision system is the base and guarantee to strengthen the financial supervision; it has the character of unity of supervision organization, perfect instrument of supervision, harmonization of supervision legality and internalization of supervision thought etc. Establishing the modern financial supervision of China should consummate the financial supervision legal institutions in China. Although the laws were constituted, such as and some related regulations, yet cannot conform to the WTO rules and the market economy development and be not enough to structure the legal institution base of the modern financial supervision in China. As a result, it has to be revised further, improved and to work out financial laws and regulations in order to form a modern financial supervision system in our country.