The convergence mechanism of regional financial development has been a difficult puzzle.The paper studies it and the fluctuation of disparities of regional finance in China based on the five key factors: average length of education,social welfare levels,commodities exchange efficiency,financial transaction efficiency,as well as the different economic geographic conditions and priorities of cross-region national policies.The result shows that the change trend of regional financial development difference is similar to the shape of "hat"."U" characteristic just shows characteristics of partial regional financial development disparities change from 1978 to 2004 in China,not characteristics of the whole periods.