the revised regulations on the implementation of the budget law of the people's republic of china (hereinafter referred to as the "regulations") will take effect on october 1 this year. regarding the ministry of finance has issued the revised budget law implementing rules for the implementation of the notice "(hereinafter referred to as the" notice "), require financial departments at all levels fully recognize the significance of the implementing regulations, carefully to do a good job of learning training, organize the implementation of regulations, strengthen the regulations system of form a complete set of clean up and construction.
the circular pointed out that financial departments at all levels should fully understand the importance of implementing the regulations, earnestly improve the consciousness and initiative of implementing the regulations, and take this as an opportunity to further enhance the law-based and standardized level of budget management.
according to the circular, financial departments at all levels should attach great importance to the study and training of the regulations, fully grasp the new requirements of the regulations on budget management, change their ideas in a timely manner, and adhere to the principle of applying what they have learned and combining what they have learned with what they have applied. local financial departments should timely report the main spirit and specific provisions of the regulations to party committees and governments at the same level, and widely publicize the regulations in various ways. the implementation of the regulations should be regarded as an important assessment of the publicity and education of the financial rule of law.
the circular stressed that financial departments at all levels and all departments and units should strictly abide by the provisions of the regulations on the scope of government budget revenues and expenditures and the content of their compilation, and do a good job in effectively coordinating the government budget system. to further implement the full caliber budget management of the department, standardize the department budget management, improve the integrity of the department budget preparation; we should further strengthen the management of local government debt and effectively guard against and defuse debt risks. we will further standardize budget implementation, improve the system of transfer payments, deepen performance-based management of budgets, increase the disclosure of budget information, carry out oversight work in accordance with regulations, and deal with violations of the budget law and regulations in accordance with the law.
according to the circular, financial departments at all levels should, in accordance with the specific provisions and requirements of the regulations, comprehensively sort out the relevant institutional documents previously formulated. in accordance with the principle of "who enacts and who cleans up the matter", any inconsistency with the provisions of the regulations shall be repealed or amended in time, and any violation with the provisions of the regulations shall be suspended. at the same time, we should promptly study the formulation of the budget law and relevant supporting systems of the regulations to ensure that all provisions of the regulations are implemented.
source: ministry of finance, prc