Research Report, Issue No.53, 2021. Problems and Reform Solutions for Current Fiscal Budget Management

  • Time:2021-11-23
  • source:CCIEE

Finance is the foundation and important pillar of national governance while budget is the important demonstration of fiscal management. Since the 18th National Congress of the Communist Party of China, the management mechanism for fiscal budget has been improved constantly. Due to the economic downward pressure and the impact of COVID-19 pandemic, national public budget revenue of 2020 dropped by 3.9% as the expenditure increased by 2.8%, compared with that of the year before. The pressure on fiscal revenue increase is growing, and rigid increase and fixed structure of fiscal expenditure stay relatively prominent. Therefore, new round of budget management reform is a must-to-do.

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