Abstract: The evaluation of financial regulatory transparency in China has long existed in various forms but remains in a nascent stage,characterized by a "result-oriented bias" that neglects the process.This approach overlooks the communicative and interactive value inherent in the evaluation process for enhancing transparency,failing to align with the requirements for its construction.Consequently,it is imperative to respect the integrity of the evaluation mechanism,abandon undue reliance on results,return to the practical essence of evaluation activities,and alleviate implementation bottlenecks through a "procedural turn".Addressing specific issues—such as inconsistent regulatory objectives in target transparency,insufficient procedural expertise in knowledge transparency,and limited participation in operational transparency—requires moving beyond a one-sided focus on results.It is essential to integrate the exchange of financial regulatory information into the entire evaluation process,focus on interaction patterns among participants at different stages,and strengthen institutional designs conducive to communication.By enhancing target transparency through prior consultation,improving knowledge transparency via procedural communication,and boosting operational transparency through multi-stakeholder participation,this study proposes a transformation from result-oriented to process-oriented evaluation.This shift aims to establish a structure that attaches equal importance to both result and process,thereby realizing effective governance of financial regulatory transparency.

Key words: finance, financial regulation, financial regulatory transparency, procedural turn, regulatory effectiveness