Fiscal policy is an important part of government to promote strategic emerging industry innovation activities.This article selects panel data of 29 provinces and municipalities during 20092015，and introduces threshold regression model to explore the fiscal policy threshold effect on innovation performance and innovation capital investment of strategic emerging industries.The empirical results show that the technology development stage and the commercialization stage of strategic emerging industry have fiscal policy threshold effects，and with the increase of threshold value，the incentive effect of innovation input on innovation performance is greater.Finally，based on the research results，this article puts forward policy recommendations to enhance the innovation performance of strategic emerging industries.