Since its reform and opening-up，China has made great achievements in reforming its education finance system. The main accomplishments include：the formation of a more reasonable input system，bringing more adequate funding to schools；the formation of a relatively complete student financial aid system，that provides educational opportunities for students with financial difficulties；increased funding responsibility for higher-level governments，and narrowing the gap between urban and rural funding. However，some unsolved issues are still existing，which include：the fund allocation system still has room to improve and remains unfair，with a large gap in educational resources among different schools and different groups；the division of funding responsibility among various levels of governments is still unreasonable，with no provincial-level coordination system for education funding and a huge gap in education funds among regions.