Based on the following six aspects as general influence; capital assets investment boost; medium-small enterprises tax burden reduction; High-Tech development encouraging; export stimulating and consumption regulating, this paper analyzes the effects of structural tax reduction policy implemented by Guangzhou municipal government with econometrics means, and points out the actual problems such as less of macro-regulation, restriction of tax-reduction, existing of reduplicated taxing, less support for medium-small enterprises and increasing of management risks. In the end we present the relative solutions from the aspects of deepening tax reform; improving the distribution of property rights in government; increasing tax preferential policies to medium-small enterprises, optimizing tax-reduction management model and interacting with other regulation means. <<