Abstract: China has become an important organizer of international sports events, but the division of fiscal power in hosting events is still unknown and improper. In order to better host the events, it is necessary to examine the existing situation of division of fiscal power and explore the optimal path. According to the three principles of fiscal power division, the fiscal power in hosting events should be mainly defined as common fiscal power. Through investigating on the 2008 Beijing Olympic Games, 2022 BeijingZhangjiakou Winter Olympics and 2022 Hangzhou Asian Games events, it's found that the fiscal power in hosting events has been mainly assigned to local governments, partially assigned to central government. What's more, there are still some problems: The definition of fiscal power in hosting events is vague; division scheme is unstable; some fiscal power is incorrectly assigned;coordination mechanism is lacking. The central government should bear more fiscal power, and its fiscal power and expenditure responsibilities should be different according to the financial and administrative capacity of host cities and co-host cities.Accordingly, the central government should increase the fiscal allocation to the host cities and co-host cities, and the amount of allocation should be determined on the basis of fully considering various influencing factors and giving reasonable weight to them. If permitted, the host city can also provide financial subsidies to the co-host cities.