Based on the transmission mechanism theory of aggregate monetary policy, this paper explores the micro mechanism of targeted RRR cuts monetary policy driving the performance growth of agricultural enterprises, and uses DID method to test the difference in the impact of the targeted reduction of reserve ratio monetary policy on the performance growth of agricultural listed companies and non-agricultural listed companies.The results show that compared with non-agricultural listed companies, the driving effect of targeted RRR cuts monetary policy on the performance growth of agricultural listed companies is more significant. The driving effect of targeted RRR cuts monetary policy on the performance growth of agricultural listed companies with high financing constraints is stronger than that of non agricultural listed companies. There is no significant difference in the driving effect of performance between agricultural listed companies with low financing constraints and non-agricultural listed companies with low financing constraints. The driving effect of targeted RRR cuts monetary policy on the performance of high-risk agricultural listed companies is significantly different from that of high-risk non-agricultural listed companies, while the driving mechanism for the performance growth of low-risk agricultural listed companies is not significant.