In the era of reform in education and teaching, the development of foreign language majors in local finance and economics universities plays a vital role in the development of university teaching and local economic development. To be problem-oriented, to objectively understand the necessary connection between “new liberal arts” and foreign language majors, and to analyze the problems in the development of foreign language majors in the new era can help explore the path for the development of foreign language majors in the course of construction of “new liberal arts”. Local finance and economics universities should start from the areas of curriculum quality, teaching management, integration of majors, and school-enterprise docking, so as to promote the transformation and development of foreign language majors, thus cultivating more applied foreign language talents that meet the needs of local economic development.