This paper analyzed the connotation,characteristics and role of expanding financial strategy on enterprise development based on the content,types and theories of financial strategy. It took the financial strategy used by Mengniu Dairy in the development period as a case to study Mengniu Dairy's use of expanding financial strategy and the financial risks and benefits arising from the perspectives of financing,investment and dividend distribution. It can be concluded that Mengniu Dairy's accounting strategy is basically in line with the characteristics of expanding financial strategy,and its application enables Mengniu Dairy to control financial risks well,achieve steady growth and sustainable development.