This paper uses tax credit rating disclosure as a natural exogenous shock, and based on the micro-data structure quasi-natural experiment of 1214 A-share listed companies in 2013-2016, the double difference method system is used to evaluate the impact of tax credit rating results disclosure on R&D investment of listed companies. It was found that tax credit rating results disclosure significantly increased the R&D investment of listed companies. The estimation results based on the PSM-DID method are not significantly different from the above conclusions. The robustness test also indicates the correctness of the above conclusions. The mechanism test shows that tax credit rating results disclosure can promote enterprises to increase R&D investment by reducing the financing constraints of enterprises. In addition, the sample-by-sample regression found that tax credit rating results disclosure can only promote the R&D investment of small and medium-sized enterprises and private enterprises.