Li Xiao and Li Liming wrote in the second issue of Journal of Social Sciences of Jilin University for 2021 that academic circles at home and abroad believe that one of the important sources of the great economic diversion between China and the West in the 18th century is the financial diversion between China and the West. In the 13th century, when faced with the same financial pressure, whether it was the "Huizi" issued by the government of the Southern Song Dynasty or the bonds issued by the Venetian government, they were theoretically the credit certificates issued by the state to the society, and in essence, the capitalization of national credit. In terms of the logic of national credit, the reason why the paper money system of Southern Song Dynasty is very easy to collapse is the lack of national credit, while the stable operation of Venice public bond system is due to the perfection of national credit. Therefore, the public debt system or the paper money system is only the different path to the financial revolution, which fundamentally drives the country to realize the financial revolution and rise is to guarantee the stable operation of the national credit system or the paper money system. This point is of great significance to the development of China's economy today.