can not blindly follow the example of china,advocating the concept of capital markets,and from the chinese market,the actual state of resources and it ** not totally dependent on state-controlled market in the allocation function of the neglect of the improvement.financial market ** not perfect因噎废食we can not completely abandon the market in europe and the united states practice has been made in the outcome of the financial derivatives,while at the same time find out the financial industry will not be effective use of western scientific methods to guard against the r**k.wto to achieve a reasonable use of financial derivatives,to fully serve our country the healthy development of financial markets. key words:financial derivatives;hedge;the financial cr****;r**k prevention