This paper describes the fiscal system arrangements of the world’s major developed countries and emerging economies，in order to provide international experience for China’s future fiscal system improvement. Based on comparative study of different countries’ fiscal system，this paper suggests that：in terms of government debt management，China should improve debt management system and improve debt risk indicators and early-warning indicators；in terms of social security system，China should improve three aspects of social security content，coverage of insured group and responsibility of payment subject，and diversify ways of government participation in social security；in terms of treasury centralized payment system，China should improve the treasury management institution，treasury centralized payment scope and treasury account management on the premise of the central bank’s treasury management system.