This paper analyzes five factors mostly influencing the financial security of China, they are bad loans of country owned banks and the triune system of country owned economic, the scale of recessive debt of government, national external debt in disguised form, domestic financial disorder, impact from outside money market. There are two opposite opinions about the national financial risk, we consider that the national comprehensive debt level can represent the actual comprehensive financial risk level of China.In China，the risk level is in low condition at present according to our analysis． Furthermore．we consider it is very necessary to deal with the bad bans of Chinese Banks．Though the foundation of Financial Assets Management Company has profound progressive meaning．we reconsider its effects at present market condition from the foflowing four aspects the function and model of AMC，the exIent of Chinese finatlce market securitization，the transformation of bad loans from commercial banks to AMC and “debt-transfer-t0-share”program． This paper also proposes to be care to avoid the appearance of a new kind of country—owned huge enterprise to the bad,and to be care to evade the converse lift of banking risk during the proceed of“debt—transfer to—share”．