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Government Finance |
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Brief Introduction |
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The
final state financial accounts are composed of the final accounts at the level
of central government and the total final accounts at the level of local
governments. the total final accounts at the level
of local governments are composed of the total final accounts of the governments
of provinces, autonomous regions and municipalities directly under the central
government. the total final accounts at the provincial
(autonomous region, municipality directly under the central government) level
are composed of the final accounts at the provincial level and the total
final accounts at the level of governments of prefectures and counties
(cities). |
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The
final accounts at the central level, at the provincial level and at the county
(city) level are respectively composed of the final accounts of the administrative
and institutional units, the final financial accounts of enterprises, final
financial accounts of capital construction, annual reports on treasury and annual
reports on tax revenue, pooled together by the responsible departments at the
same level. |
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In
order to ensure the accuracy and completeness of the data of final accounts,
the financial departments at different levels should check the budgetary data
of the higher and lower levels of the whole year before the end of the year,
including the related figures of the total government budgets between
different levels, the related figures between the government total budget and
the budgets of the departments and the related figures between the budget of
the departments and the budgets of the subordinate units. After the end of
the year, the financial departments of different levels and the state
treasury should check the data of the revenue in the final accounts together
with the units which hand over the budget, filled out the accounts checking
sheet, made signatures and reported to the higher authorities respectively. |
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In
order to ensure the consistency in the coverage of the final accounts, the Ministry
of Finance works out and issues the final accounts forms for the provinces,
autonomous regions and municipalities directly under the central government
and the final accounts forms for the departments at the central level. the financial departments at various levels and the central
government departments should also work out and issue the final accounts
forms in the light of the specific conditions of the department to the departments
or units at the lower level. the final account forms
are designed in accordance with the composition of the state final account
and are composed of the total final accounts forms suitable for the financial
departments of different levels and the unit final accounts forms suitable
for the budgetary agencies of the responsible departments or units. the data for the final accounts are filled out in accordance
with the data in the account books of the total budget or unit budget. |
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The
data on the government revenue and expenditure come mainly from the total
final accounts table of the revenue and expenditure and the subsidiary table
of the final accounts of the revenue and the subsidiary table of the final
accounts of the expenditure as well as the data calculated from the above data. |
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The
procedures for the compilation of the extra-budgetary revenue and expenditure
and the related financial tables are basically the same as those for the compilation
of the state final accounts. |
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II.
Owing to the changes in financial system and in the methods of compiling and listing
the items of the budget, the coverage of the government revenue and expenditure
and their breakdowns are not consistent over the years. in
view of the above situation, the concerned data in this yearbook have been
adjusted so as to make them basically comparable over the years. the main
adjusted items are as follows: |
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(1)
Government revenue. the revenues from the domestic
and foreign debts in 1993 and the previous years are deducted from the government
revenue and no longer listed as the component of the government revenue. the financial subsidies for the price adjustment in 1978-1985
were listed formerly as an item to eat up part of the government revenue and are
now listed as an item of government expenditure. Correspondingly, the original
item “ revenue from debts” under the “government
revenue by item” is cancelled; and the concerned items in “government revenue
by sector” and “government revenue by ownership” have also been adjusted. |
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(2)
Government expenditure. the expenditures for repayment
of the principal and interest of the domestic and foreign debts in 1993 and
the previous years are deducted from the government expenditure and no longer
listed as the component of the government expenditure. the
financial subsidies on the price adjustment in 1978-1985 were listed formerly
as an item to eat up part of the government revenue and are now listed as an
item of government expenditure. Correspondingly, the original item “ expenditure for debts” under the “government expenditure
by account item ” and the “government expenditure by general categories” is
canceled; the expenditure for capital construction under the “government
expenditure by account item ” no longer includes the expenditure for capital
construction as a result of the utilization of the foreign loans; the related
items under the “government expenditure by general categories” have also been
adjusted. |
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(3)
Revenue and expenditure of the central government and local governments.
According to the above-mentioned adjustments in the government revenue and expenditure,
adjustments are also made in the revenue and expenditure of the central
government correspondingly and in the revenue and expenditure of the local
governments in a few years. the table on “Total
Revenue and Total Expenditure of the Central Government and Local
Governments” show the revenues and expenditures of the central government and
local governments at the current years. the changes
in the financial structure and in the subordinate relationship of the enterprises
have the impact on the revenues and expenditures of the central government
and local governments. However, no adjustments have been made in the data of
the past years. in addition, there are also appropriate adaptations made in
the specific conditions in the relationship between the central government
and local governments: Sometimes some local governments hand certain amount
of their funds over to the central government; Sometimes the central
government pays subsidies to the difficult provinces and autonomous regions
or send back parts of the tax revenue to the local government. Therefore the table
on “Total Revenue and Total Expenditure of the Central Government and Local
Governments” does not show the real financial strengths of the governments at
different levels. |
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Data
on the extra-budgetary funds have been collected in accordance with the statistical
reporting scheme since 1982. Changes have been made in the items in the extra-budgetary
revenue and the extra-budgetary expenditure several times. in
1993, new financial general rules and accounting standards were implemented. as a result, significant changes have been made again in
the scope of extra-budgetary revenue and extra-budgetary expenditure. the innovation fund and the major repair fund in the state-owned
enterprises were no longer listed as the extra-budgetary funds. Therefore the
extra-budgetary revenues and the extra-budgetary expenditures in the years
before 1993 and since 1993 are incomparable. |
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