In order to further study and implement the spirit of the 19^th CPC National Congress, to probe into the relationship between the central and local governments at both theoretical and practical levels, on December 15, 2017, the China Academy of Financial Sciences, the China Institute of Finance, and the PKU Institute of State Governance Studies jointly held the 2^nd "Finance and State Governance" Academic Forum (2017) in Beijing. Focusing on "deepening the reform of the financial system," the forum conducted an in-depth study on the division of fiscal powers and the division of responsibility for fiscal expenditures. More than 100 delegates from the Ministry of Finance, the Chinese Academy of Financial Sciences, the Chinese Academy of Social Sciences, some institutions in Beijing and universities participated in the conference. Fu Zhihua, director of the Graduate School of the Chinese Academy of Sciences, presided over the conference. Liu Shangxi, secretary of the party committee and president of the Chinese Academy of Science and Technology, and Zhou Zhirin, vice president of the Institute addressed the speech.