This paper explores the integration of risk management and corporate governance and its implications for the performance of Chinese manufacturing firms. By developing a comprehensive model that combines these two crucial aspects, the study aims to analyze how enhanced governance structures and refined risk management strategies can improve organizational decision-making, financial stability, and operational efficiency. Utilizing a blend of theoretical frameworks, including Agency Theory and the Balanced Scorecard, the paper proposes a series of hypotheses that examine the effectiveness of integrated practices in enhancing firm performance. Through a systematic review of literature and model development, the research identifies practical steps for implementation and policy recommendations that could foster better integration. The study's significance lies in its potential to guide firms in strengthening their governance and risk management processes, thereby contributing to the robustness and competitiveness of China’s manufacturing sector. This paper not only aligns with academic and managerial interests but also offers insights for policymakers aiming to enhance corporate practices in a dynamic economic landscape.