Taking the Chinese fiscal theory as the core guiding ideology and drawing on classic western fiscal theory，this report constructs an indicator system of international fiscal development index based on China，and calculates the fiscal development index of 15 major countries in the world. The international comparative study of the fiscal development index shows that China’s fiscal development faces some challenges and problems，such as fiscal operation challenges caused by the irrational structure of fiscal revenue and expenditure，hidden risks to fiscal stability caused by fiscal imbalances，and vague positioning of fiscal governance caused by the lack of systematic fiscal guidance theory. Finally，this report provides a series of reform countermeasures for China’s future high-quality fiscal development from the short-term and long-term perspectives. This report suggests that in the short term China needs fiscal structural reform strategies and ease the pressure on fiscal balance，and in the long term China needs to diversify the system of fiscal governance tools and improve the fiscal governance ability to control fiscal risks.