How to relieve the maturity mismatch of investment and financing on corporate level is of utmost importance to reduce the operational risk of the real economy and the systematic risk of the finance.Theoretically，the competition of the banking industry can reduce the maturity mismatch of investment and financing on corporate level by easing credit and financing constraints.Based on hand-collected data of financial licenses of commercial banks，this paper constructs the measure of banking competition on the provincial level in order to analyze and empirically test the potential influence of banking competition on the maturity mismatch of investment and financing on corporate level，its mechanism and economic consequences.The study finds that： Firstly，the increased banking competitions is conducive to reducing the maturity mismatch of investment and financing. Secondly，the mechanism of the potential influence of banking competition on the maturity mismatch of investment and financing on corporate level is to relieve financial constraints.Thirdly， the competition in banking industry can reduce the negative influence of the maturity mismatch of investment and financing on corporate performance.The conclusion shows that promoting the market structure reform of financial institutions is conducive to improving the allocation efficiency of credit market resources，alleviating the “short-term loan and long-term investment” predicament of micro-enterprises，thus helping to reduce the potential debt default risk of investment and financing maturity mismatch of micro-enterprises，which has adverse effects on enterprises themselves，upstream and downstream entities and the financial system.