The financial legislations in the PRC are mainly supplied by financial regulatory agency ‘s rules. This supply model, which is a reasonable result derived from the development process of PRC financial market, has its historical background and will continue to exist in the foreseeable future. Such model is reasonable as it embodies the revolutionary pragmatism, properly alleviates the dilemma of financial law’s supply and demand, and aligns with the comparative law’s trend of increasing administrative rules. However, in practice, there exist problems including financial agency rules’ supersession of their legal authorization scope and the conflicts with higher level laws, hindering the development of financial private law. Therefore, the financial regulatory authority’s agency rules shall not be the direct basis to determine a contract’s validity. Upon court’s review, qualified agency rules may serve as judgment’s basis and influence the determination of contract validity.