Before the global financial crisis happened at the end of 2008, China has kept a kind of economic growth mode called export oriented industrialization for about 30years.In the process of export oriented industrialization, developed economies bear headquarter functions to produce local Dixit-Stiglitz intermediate services such as R&D, marketing, financing ,exporting and so on ，in the meanwhile China bears specialized manufacturing functions, taking the above business service activities as inputs. Export oriented industrialization helps China, a backward economy, to accumulate human capital through learning-by-doing in production and final sale with technological, financial and business dependences on overseas.
However, this global financial crisis forces China to transform the economic growth mode on the basis of export oriented industrialization to keep on high economic growth. Under the new economic growth mode, urbanization, especially about developing the systems of cities can produce human capital agglomeration effect to gain both local information spillovers in the process of producing and local knowledge spillovers in the process of technical innovation in China. That is to say, China has to develop its own headquarter cities to improve technical innovation ability and reduce dependences on overseas. In the process of China’s urbanization, one of most important things is reform financial system serving export oriented industrialization to serve industrialization and urbanization together.