Under the economic "New Normal" state, China's local economy faces great pressure, among which the local governments’ own financial difficulty is most obvious. ANBOUND think tank scholars point out that the growth rate of China’s local finance now is slowing down, meanwhile the Ministry of Finance is ambitiously promoting and strengthening the government’s financial ability on macro control. In the “Thirteenth Five-year Plan”, strengthening financial adjustment ability will be a reform direction. Due to the growing complexity of financial environment, the local governments have to prepare for years of hardship.