www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / View

China on path to modern fiscal system

By Wu Jiangang (chinadaily.com.cn) Updated: 2014-07-10 11:09

China's Politburo approved reform plans in three major areas on June 30, with the biggest impact likely to be a planned overhaul of the fiscal system.

As we know, China is currently facing the major task of transforming its economic growth model. The key for the transformation is the role of government evolving from an investment-oriented approach to a service-oriented system. The key for the transformation of the role of government is fiscal reform.

China's old economic growth model was to use government power to mobilize funds to invest in infrastructure and provide important products and services. In the early stage of urbanization, the model was extremely efficient in building infrastructure, improving basic living standards, and reducing poverty. It was very effective in mobilizing China's land, resources and labor in order to utilize developed countries' techniques and to provide standardized products and services.

In the later stages of urbanization, however, the old model suffers from lack of competitiveness and is unsustainable.

Only a free market, rather than a government-led market, can stimulate creativity, meet a variety of consumption needs, and reduce waste. The role of government is not to participate in market competition, but to provide a fair environment for the free market, such as the protection of property rights and the construction of fair legal system. This means China needs to transform the role of government from investment oriented to service oriented.

The best way to transform the role of government is to redefine its way of collecting and spending money. Public finance is therefore about the role of the government in the economy.

We may conclude that fiscal reform is the key for China's economic success and the main goal of fiscal reform is to transform the role of government from an investment-oriented approach to a modern fiscal system, specifically a service-oriented government.

According to the plan, the fiscal reform will focus on budget control, tax reform and changing the expenditure share between central and local government.

The plan goes to the core of the modern financial system, but the specifics have not yet been determined.

The budget system is the foundation of the entire fiscal system and also the core of fiscal reform. The main problem with China's government budget is its lack of transparency and professional supervision.

China on path to modern fiscal system
China on path to modern fiscal system
Fiscal policy to play larger growth role
Transition or trend? Financial difference will be crucial issue 

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
...
主站蜘蛛池模板: 特级毛片a级毛免费播放 | 欧美国产在线视频 | 宫女淫春 | 亚洲国产日韩欧美 | 国内精品1区1区3区4区 | 女人国产香蕉久久精品 | 日本免费二区三区久久 | 欧美日韩一区二区三区视视频 | 国产美女一级特黄毛片 | 久久久久久久久久免免费精品 | 国产亚洲欧美日韩在线看片 | 在线视频一二三区2021不卡 | 俄罗斯美女在线观看一区 | 91精品人成在线观看 | 成人毛片免费视频播放 | 黄篇网址 | 欧美二级在线观看免费 | 亚洲视频欧美视频 | 中文字幕咪咪网 | 欧美高清视频手机在在线 | 国产三级观看 | 久久久久久久免费视频 | 男女视频免费 | 久久久久久免费播放一级毛片 | 一及黄色| 欧美日韩在线视频播放 | 九九精品久久久久久噜噜 | 亚洲视频中文字幕在线观看 | 99香蕉网 | 日本波多野结衣在线 | 久久综合久久自在自线精品自 | 玖草在线 | 亚洲国产精品一区二区首页 | 久久精品国产精品亚洲毛片 | 久久中文亚洲国产 | 欧美性色生活片免费播放 | 日韩一级欧美一级一级国产 | 日韩一区二区精品久久高清 | 成人欧美视频 | 成人毛片在线观看 | 久久亚洲高清观看 |