Based on the meaning of land finance, some domestic scholars believe that one of the institutional roots of land finance is indeed China's land system. Therefore, in order to solve the current land financial dilemma, the reform is started with the land system. The impact of land system reform is mainly reflected in the impact of land system, which weakens the financial impact of land, and then causes the fluctuation of local economy. A new Keynesian DSGE model of representative families, representative enterprises and government departments is constructed, and the impact of land system is incorporated. Based on this, the changes of economic output, consumption of representative families, government investment and government debt under the impact of different land transfers are discussed to reveal the impact of land transfers on land financial governance.