Budget reform in China: Progress and prospects in the Xi Jinping era

Christine Wong

OECD Journal on Budgeting, 2016, vol. 15, issue 3, 27-36

Abstract: Fiscal reforms were central to the comprehensive programme of reforms announced at the Third Plenum of the 18th Party Congress in November 2013, during the first year of the Xi Jinping administration. One of the significant reforms on focus is public financial management (PFM). The urgency of PFM reform can be traced, paradoxically, to the extraordinary growth experienced by the Chinese economy during the first decade of this century, when easy money and weak accountability gave rise to unprecedented waste, corruption, and a mountain of local government debt.

Keywords: China; economy; reform; budget; public financial management; intergovernmental; local government; debt (search for similar items in EconPapers)
JEL-codes: E62 E65 E66 H3 H5 H6 H7 H8 O23 O53 P2 P3 P5 (search for similar items in EconPapers)
Date: 2016
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