Bud­get Per­for­mance Eval­u­a­tion

Beijing Review - - THIS WEEK SOCIETY -

China aims to build an al­len­com­pass­ing bud­get per­for­mance eval­u­a­tion sys­tem in three to five years, ac­cord­ing to a state­ment re­leased on Septem­ber 25.

The Cen­tral Com­mit­tee of the Com­mu­nist Party of China and the State Coun­cil is­sued a reg­u­la­tion re­gard­ing the de­ci­sion to in­tro­duce the sys­tem. This marks a key step in ex­pand­ing the coun­try’s fis­cal and tax re­form and up­grad­ing gov­er­nance and bud­get man­age­ment.

Un­der the reg­u­la­tion, the bud­get per­for­mance eval­u­a­tion will be more “com­pre­hen­sive,” cov­er­ing rev­enue and ex­pen­di­ture of gov­ern- ments at all lev­els.

The eval­u­a­tion aims to cover the en­tire process, from estab­lish­ing a per­for­mance eval­u­a­tion mech­a­nism to strength­en­ing per­for­mance ap­praisal mon­i­tor­ing.

The reg­u­la­tion also un­der­lines the ap­pli­ca­tion of the eval­u­a­tion re­sults. A third-party in­sti­tu­tion could be in­tro­duced to help with the per­for­mance as­sess­ment in­de­pen­dently if re­quired. The au­dit and eval­u­a­tion re­sults will be a ma­jor in­di­ca­tor for fu­ture bud­get plan­ning.

The eval­u­a­tion will ap­ply to bud­gets per­tain­ing to gen­eral pub­lic fi­nance, govern­ment-man­aged funds, state cap­i­tal op­er­a­tions and so­cial in­sur­ance in­vest­ments.

The reg­u­la­tion also high­lights the duty of lo­cal gov­ern­ments. Heads in charge of key projects will take life­long re­spon­si­bil­ity for the bud­get per­for­mance.

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