Local Public Finance Management in the People's Republic of China

Challenges and Opportunities

Nonfiction, Social & Cultural Studies, Political Science, Government, Public Affairs & Administration
Cover of the book Local Public Finance Management in the People's Republic of China by Asian Development Bank, Asian Development Bank
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Author: Asian Development Bank ISBN: 9789292545673
Publisher: Asian Development Bank Publication: July 1, 2014
Imprint: Asian Development Bank Language: English
Author: Asian Development Bank
ISBN: 9789292545673
Publisher: Asian Development Bank
Publication: July 1, 2014
Imprint: Asian Development Bank
Language: English

The People's Republic of China is a highly decentralized unitary state with local governments having a dominant share of public service delivery responsibility. Local governance is critically linked to a local public finance system that creates incentives and accountability mechanisms. To ensure the policy response, this project focused on the three interrelated areas in local public finance management, i.e., local budgeting, local debt management and local taxation, and produced policy options in the short, medium and long terms. The overall purpose of the reforms is to improve local accountability and transparency, strengthen local fiscal capacity, and institutionalize formal frameworks for local public debt management.

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The People's Republic of China is a highly decentralized unitary state with local governments having a dominant share of public service delivery responsibility. Local governance is critically linked to a local public finance system that creates incentives and accountability mechanisms. To ensure the policy response, this project focused on the three interrelated areas in local public finance management, i.e., local budgeting, local debt management and local taxation, and produced policy options in the short, medium and long terms. The overall purpose of the reforms is to improve local accountability and transparency, strengthen local fiscal capacity, and institutionalize formal frameworks for local public debt management.

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