Abstract: The general statement defines the relationship between the crime of financial fraud and the crime of ordinary fraud as a legally coopetition relationship. The theory of legal coopetition is based on the premise that the crime of financial fraud uses property rights as legal interest. However， the ideal position of property rights in the crime of financial fraud should be the accompanying legal interest. The theory of legal coopetition should not be insisted. The theory of imagined coopetition uses the crime of ordinary fraud to evaluate property losses caused by financial fraud. In fact， it strengthens the protection of property rights that should have been degraded， which leads to doubts about the judgment of the relationship between the two crimes. The theory of mutual exclusion is the proper choice of the relationship between the two crimes. Mutual exclusion theory has a stronger theoretical advantage compared with the theory of coopetition， and there is no problem of punishment loopholes in the theory of imagined coopetition.

Key words: the crime of financial fraud; the crime of fraud; coopetition relationship; mutually exclusive relationship