Currently, China has only cash transfer programs for all kinds of children in difficulty. This article focuses on migrant and left-behind children receiving cash transfers in Qinghai and Anhui provinces to analyze the impact of cash transfer policies on improving the situation of children. Through the comparative analysis of two groups of “cash transfer payment children” and “non-cash transfer payment children” in the project villages / communities in the two provinces. It is found that: (1) The annual household income of the surveyed households in Qinghai Province surpassed Anhui Province. But regardless of whether they are “non-cash-paying families” or“cash-payment families,” indemnificatory income is crucial to the survival of the families in both provinces. (2) Family expenses of children interviewed in Qinghai Province are higher than those in Anhui Province, but the expenditure of children in cash transfer payment in two provinces is obviously less than that of children in non-cash transfer payment. (3) In terms of children's living conditions, “cash transfer payment children” have poorer living conditions and have lower quality of daily life than “non-cash-transfer children”. In addition, “cash transfer payment” children face significant problems in education, nutrition, health and guardianship.