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China mulls strengthening budget review, supervision

Abstract : Chinese lawmakers are deliberating a draft revision of a decision on strengthening the review and supervision of the central government budget, as part of efforts to build a modern fiscal system.

BEIJING, April 26 (Xinhua) — Chinese lawmakers are deliberating a draft revision of a decision on strengthening the review and supervision of the central government budget, as part of efforts to build a modern fiscal system.

The revised draft was submitted at the ongoing session of the Standing Committee of the National People’s Congress (NPC), the top legislature, on Monday.

Consisting of 12 articles, the draft covers topics including budget implementation and auditing supervision, and the regulation of budget adjustment review.

It also specifies the role of the NPC in reviewing and supervising the central government budget.

The draft summarizes and incorporates related reform measures, experience and effective practices of the NPC’s budget review and supervision work in recent years, aiming to ensure the full implementation of budget law, said Shi Yaobin, director of the Commission for Budget Affairs with the NPC Standing Committee.

The move is necessary and feasible because of new situations in the new era and the new development stage, Shi added. Enditem

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Source: China mulls strengthening budget review, supervision

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