Henan Province promoted agricultural modernization by increasing financial investment in agricultural development in recent years. As financial investment was increasing，agricultural development capacity in Henan province had been effectively improved，and the agricultural foundation had been consolidated. During the process of increasing financial support for agricultural modernization，Henan province explored a series of mechanism innovation，especially in improving assist to new agricultural business entities，improving agricultural development support and protection system，optimizing agricultural subsidies paid ways，exploring the mechanism to connecting the fiscal transfer payment and rural population urbanization，and constantly increasing investment to social security，education，health and other public areas In the rural areas. As the gap between urban and rural development in Henan Province is still large，ways to connect new urbanization and agricultural modernization need further exploration. New agricultural business entities are still in the early stages of development. To enhance the benefits of agricultural subsidies in the future，Henan government will improve support policies and implementation mechanisms，optimize various types of agricultural subsidy programs and enhance the effectiveness of agricultural subsidies.