| At present, China is experiencing a period when various conflicts are standing out, which brought unprecedented challenges and higher demand to the government capacity. The father of modern economics, Adam. Smith figured:finance is the mother of politics. According to the ancient and modern practice of public management at home and abroad, finance is always the lifeline of a nation, having a far-reaching impact on the overall situation, as well as related to the stability of state power, economic development and long-term stability of society. It can be said that finance is the lifeblood of government, which relates to the Government's capacity In the last three decades of reforming and opening, to meet the needs of economic development, China's financial system has undergone profound changes, which contribute a lot to economic development and nation-building. In the current, there are many problems in the field of finance, of which the lowness of the effectiveness and efficiency of financial expenditure is one of the most prominent. It is still a great and arduous historical task before us at present---how to overcome the low efficiency of financial capital expenditures at the base and how to improve the performance level of funds and offer guarantee to improve the administrative capability of the government,Since 1980s, Western countries, OECD countries as representatives, have carried on reforms towards the pattern of traditional budget management which mainly focuses on investment, and at the same time put into practice the new budget management which is output-and results-oriented. The performance budgeting in Western countries proved its feasibility and effectiveness. In recent years, some local governments have begun a pilot performance budget reform, and performance budgeting has become the direction of China's budget system reform. In this paper, on the basis of the existing reform achievement of the performance budgeting in OECD countries, it will be summarized that how the special funds of Guangdong successfully managed to reform the performance management, and it will also analyse the present performance of our national finance, and discuss the significance of performance finance management reform, the reform objectives as well as the main content of the performance management. performance of the connotation and extension, and from a management point of view, analyses the performance in the economic meaning and identity. On this basis, the paper focuses on the concept of the performance of funds. The Financial performance, as a concept introduced by the Western New Public Management Movement, is not only the innovation of the traditional concept of public management, but also the ultimate goal of this paper. This paper introduces the meaning of financial performance, compares the similarities and differences between financial performance and traditional administrative efficiency and evaluate the criteria of financial performance.After introducing the concept of performance and the performance of funds, the paper then focused on the concept and the principles of performance management. The principle of performance management of financial funds mechanism is the core of the article. The principles of performance management of financial funds are introduced, and budget performance management principles and the distinction between the traditional budget management are compared. Performance Management as a financial fund management activity, has in common with management activities, but also has its own management features. This article introduces the main content of performance management of funds, and the theoretical basis for performance management of funds, including altogether three perspectives:public management theory, Principal-Agent theory and the theory of the budget.This theme of the paper is to study performance management reform of the financial capital, therefore, it is necessary to have a in-depth analysis and understanding of the present status of the performance of our funds. From the current situation, our country has a generally low performance of financial capital, including the loss of wasted, not high efficiency, absence and offside and so on. The main reason for this problem is the inherent imperfect in the current budget model and the defect of model. In addition, the cultural, traditional and the existing institutional factors also contributed to the low level of performance of China funds. The paper introduces and evaluates the reform at present China to improve the level of funds performance, pointing out the significance and shortcomings.Having made arguments presented and described the status quo, the paper makes a further introduction to financial performance reforms carried out both at home and abroad. Performance budget reform at abroad is represented by OECD countries, the three most representative of countries of which, including the United States, New Zealand and Australia, have been introduced. While in China, the most representative of the performance budget reform, also the most successful special funds is the reform in Guangdong. The paper focuses on the performance budget reform in Nanhai District, including the main approach, features, the achievements and significance, and the reforms a competitive allocation of special funds in Guangdong Province.Upon this basis, combined with the reality in our country at this stage, the final article will discuss on how to promote the financial performance management, put forward policy proposals, including reform of goals, the path choosing, and the construction of the framework for the performance management.
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