Role
The main functions of the Ministry of Finance is to carry out the following duties of the state:
| Number | Main Function | Description |
|---|---|---|
| 1. | Economic and public finance policies | Formulating and implementing strategies, policies and guidelines for economic development, public finance for government revenue sharing between the central and provincial governments. |
| 2. | Administration of public finance and external debt | Draft laws and regulations on public finance, financial, accounting management, external finance and debts. |
| 3. | Annual budget for Central People's Government | Preparing the annual budget of the central government, priority spending, balancing the budget |
| 4. | Revenue and Tax legislation reforms | Proposing tax legislation plans - reviewing proposals on tax legislation and tax revenue regulations. |
| 5. | Central People's Government expendituree | Administering the central expenditures - procurement, expenses |
| 6. | Government Revenue distribution | Formulating and implementing the policy of distribution between the state and government owned enterprises |
| 7. | Economic Development Expenditure | Administering the central government expenditures for economic development, the appropriation for central government financed projects, and funds for technological innovation |
| 8. | Social Security Expenditure | Managing the social security expenditures from the central government; formulating the accounting management rules on social security funds; monitoring the utilization of the social security funds. |
| 9. | Domestic government debts | Formulating and implementing policies, rules and regulations on managing government’s domestic debts; treasury bond issuance; formulating policies, rules and regulations on managing government’s external debts |
| 10. | Accounting Regulations | Formulating and implementing accounting regulations - for government and private corporations and promoting accountability and transparency. |
| 11. | Fiscal and Tax Policies | Monitoring the implementation of fiscal and tax policies - laws and regulations, examining problems with the system and making changes. |
| 12. | Fiscal research and education | Research into fiscal policy and education resources to the wider community. |
| 13. | Other Duties as Directed | Undertaking other assignments of the State Council. |
Read more about this topic: Ministry Of Finance Of The People's Republic Of China
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