Modern economic construction inevitably requires expansion of de-velopment space.Financial openness plays a key role in making full use of domestic and foreign resources and expanding the development space of Chinese path to modernization.Different from Western style financial liberalization,Chinese path to modernization requires high-level financial opening with institutional opening,which helps to take the road of modernization with a huge population,promote common prosperity of all people,coordinate development of material and spiritual civilization,harmonize human beings and nature,and create a win-win pattern of peaceful development and modernization.However,we must be cautious about the new elements,trends,and risks brought about by financial opening.At present,to boost Chinese path to modernization with high-level financial openness,we should take the precondition of safeguarding the bottom line of financial security,stimulate the advantages of the system and the potential for cooperation,adhere to the Party's leadership of financial liberalization,and unblock the new development pattern of"double circulation".It is also necessary to promote the internationalization of RMB steadily and prudent-ly,improve the level of cross-border investment and financing facilitation,ac-tively participate in global financial governance,and accelerate the construc-tion of a new open economic system.