Financial information transparency is a common issue in the global capital market and is also a difficult issue in the development of capital market. The fraud financial behaviors in capital market such as violating financial transparent principle, continuously publishing false financial information and so on seriously make capital market in disorder and infringe the interests of the investors and espeeially the interests of the weak medium--sized and small investors. As a result, it is important to improve the current situation of financial information disclosure in capital market and to consolidate information transparency construction. This paper analyzes the important significance of information transparency construction and the factors which influence financial information disclosure transparency and gives suggestions for improving the transparency,