Based on the law framework and the international experience of the participatory budget, Jiaozuo City in Henan Province reformed its financial budget and the result was outstanding. By establishing the mechanisms of democratic decision-making and “four powers” separation of power balancing, the reform gave full play to the role of the NPC system platform and safeguard the public's “right to know”,“right to participate”，“right to supervise” and their legitimate interests. Taking financial budget as the cut-in point, Jiaozuo Model exerts a profound influence on the development of grass-roots democracy and local governance and provides a new perspective for the construction of democracy in China.