The expansive financial policy started to be implemented in 1998, the effect on economic growth is strong, which is recognized internationally. But the squeezing exit effect inhibits the growth of civilian demand, which makes economic growth of China excessively depend on the increase in government expenditure. The financial deficit and debt surplus should be noticed and it is necessary to adjust current financial expanding policy so that financial expansive policy can promote economy and the unfavorable influence of the squeezing out effect can be avoided. Positive financial policies of China should be further consummated.