First,a discussion is made of the theories,types,and causes of financial crisis,and a brief introduction and evaluation is also made of some prevailing early-warning theories and modelsfor financial crisis.Second,in the light of the characteristics of China's economic and financial environment,a systematic analysis is made on the necessity and feasibility of establishing early warning system for financial crisis in China.Third,on the basis of the above analysis and in view of the models awailable at home an...