From the perspective of the complex impact of financial openness on economic restructuring， this paper discusses whether the expansion of financial openness will promote the transformation of economic structure. The results show that： （1） there is an inverted U-shaped relationship between financial openness and industrial restructuring. In the process of financial openness to the adjustment of industrial structure, there is an optimal limit for financial openness. （2） In the process of financial openness affecting industrial structure， technological innovation has played a significantly intermediary role. Therefore， it is of great significance to vigorously promote the reform of the financial system， improve the quality of China’s financial development， gradually promote financial openness and attach importance to the intermediary role of technological innovation in order to fulfill the transformation of China’s economic structure.