This Study is focused on the analysis of relationship between financial development and economic growth in north-east area(three provinces) in China. In China, the financial development biased on eastern area: a great portion of bank asset, insurance and securities business are located in that area. As a result, there are the regional restrictions on the funding processes, exist independent financial market and credit allocation in north-east three provinces in China. In finance structure, North-east three provinces(as all China area) has bank-based financial systems and low market(debt and stocks) size. Three provinces' financial interrelation ratio are lower than the whole Chinese, but higher than a shandong provinces'. this area's financial deepening index(loans/GDP) decrease over time and the loan-deposit ratio(as financial efficient index) in three provinces are more low than the level that is appropriate:80%, because it is not converted deposit of considerable size with lending out. According to a empirical test, it is concluded that FIR growth in this area show positive impacts in its process of regional economic development, but financial deepening index(loans/GDP) has negative effects. The background of underdeveloped financial system in north-east area in China is concluded in low income and investment rate in this area, not converted deposit of considerable size with lending out, underdeveloped capital market, aggravating credit conditions, decreasing business benefits etc. The problems of financial development in this area is related to negative financial effects in economic growth, insufficiency of financial intermediaries, inefficiency of financial sector, shortcomings of legal environment etc. It is concluded that China government will need a financial development strategy: cracking up of financial intermediaries and upgrading the role of capital market in financial sector.