The green transformation of manufacturing enterprise has been a significant topic of Chinese economic transition and got more and more attention. Based on additional behavior theory and the natural resource-based view(NRBV), this paper analyzes the influence of subsidy policy on green performance. This paper gives a empirical study by the data of 152 manufacturing enterprises. The result shows that there is an inverse U-curve relationship between government subsidy and green performance and environmental orientation and environmental management capacity intensify the inverse U-curve relationship.