Local Public Finance Management in the People’s Republic of China: Challenges and Opportunities

Asian Development Bank (adb)

No RPT146570-2, ADB Reports from Asian Development Bank (ADB)

Abstract: 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, trengthen local fiscal capacity, and institutionalize formal frameworks for local public debt management.

Keywords: adb; asian development bank; asdb; asia; pacific; poverty asia; public debt management china; public finance management china; local government china; local taxation china; local budgeting china; fiscal planning china; fiscal and taxation systems china; Asia-Pacific Finance and Development Center (search for similar items in EconPapers)
Pages: 74 pages
Date: 2014-07, Revised 2014-07-28
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