Fiscal Management and Economic Reform in the People's Republic of China
Asian Development Bank, 1995 - Games - 271 pages
Since 1979, economic reforms in the People's Republic of China have produced impressive gains in national income and living standards. The process, however, is not complete, and several aspects of the fiscal system need reform before the full benefits of a market economy can be realized. The government needs to be able to control revenue, expenditure, and the money supply. This can only be done if the Ministry of Finance is given greater powers to analyze the current economic situation, anticipate future changes, and guide economic reforms.
This book deals with the complex nature of the market-oriented reform process in the world's largest country. Although the focus of the study is on fiscal policy and the broader realm of public finance, it also addresses other economy-wide reforms under implementation. In the long term, the success of the fiscal reforms will hinge crucially on the enterprise, price and financial sector reforms, and on current, or planned, structural reforms that promote market-based macromanagement.
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Reforming the Financial System
Overview of the Fiscal System in
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adjustment tax administration allocation allowed Anhui average Beijing billion budget deficit budgetary Bureau business tax capital construction cent of total central bank central government central-local CESH Chapter China Chongqing cities collection contributions costs decentralization earmarked grants enterprise income tax enterprise reform enue ernment expenditure fees fiscal system fixed revenues growth Guangdong Hebei Heilongjiang Henan housing reform Hubei incentives increase indirect taxes interest rate investment Jiangsu labor levels of government Liaoning loans loss subsidies macroeconomic market economy ment Ministry of Finance monetary policy national tax service ownership payments pension pool price controls price subsidies prise product tax profit remittance provinces Qinghai reduced remittance rent retirement revenue sharing SAMCs sector Shandong Shanghai Shanxi Shenzhen Sichuan social SOEs Source square meter state-owned stock markets Table tax rates tax revenue tax system Tianjin tion township turnover taxes unemployment insurance urban workers World Bank