The principle of transparency plays a role in discovering, identifying, and avoiding harmful subsidies. International high-standard economic and trade agreements generally stipulate the transparency of subsidies, showing a trend of expanding the scope of subsidy notifications by member countries, increasing relief procedures for subsidy-related damages, and incorporating compliance measures to promote subsidy notifications. The direct motivation behind this is the poor implementation of the WTO principle of subsidy transparency, while the fundamental motivation lies in the overall shift of developed countries towards promoting “fair trade” in international trade rules. Faced with the trend of increasingly stringent subsidy transparency principles in high-standard international economic and trade agreements, China’s subsidy policies are generally insuffi cient in terms of transparency. Therefore, on the basis of strengthening the coordination of transparency obligations and national security issues, and improving the fulfi llment of notifi cation obligations, China should construct an eff ective and timely information disclosure platform to promote the transparency of government subsidy implementation and enterprise subsidy acceptance. At the international level, China should propose a “common but diff erentiated” subsidy reform plan, emphasizing the focus on capacity building in developing countries, encouraging countries to practice policies in accordance with their national conditions, and avoiding punitive measures for delayed notifi cations by member countries.