Firstly, this paper discussed differences between traditional urbanization and new urbanization. Then, from current situations of financial support for new urbanization, it analyzed existing problems in financial support for new urbanization. The problems include difficulty in infrastructure financing, shortage of funds for small and medium sized enterprises, narrow scope of financial services, and uneven industries of financial support. Finally, it came up with pertinent recommendations, including implementing diversified infrastructure financing modes, solving financing difficulty of small and medium sized enterprises through many channels, strengthening service level and expanding service scope of financial institutions, and changing the situation of uneven industry of financial support, in the hope of providing helpful references.