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    Rebalancing the Economy and Reforming the Fiscal System of the People’s Republic of China

    Bahl, Roy | March 2019
    Abstract
    Following the 19th National Congress of the Communist Party of China in October 2017, the 13th National People’s Congress (the national legislature of the People’s Republic of China [PRC]) and Chinese People’s Political Consultative Conference were held in March 2018. The National People’s Congress amended the Constitution, endorsed a government reorganization, laid out an economic and social program meant to move toward achieving the goals of high-quality and cleaner economic growth, and adopted a focus on human well-being and reduced disparities within the PRC. The State Council’s “Report on the Work of Government” provided considerably more detail on the goals and objectives of the program but stopped short of identifying most of the specific policy interventions that are to come. The fact that about 85% of all government expenditures in the PRC pass through provincial and local government budgets makes it clear that reforms in the intergovernmental fiscal structure will play a role in this program. The goal in this note is to lay out and discuss a package of reforms that could be consistent with the objectives of the government. The fiscal instruments that we consider here include the division of expenditure responsibilities, subnational government taxation, intergovernmental transfers, user charges, borrowing powers, and financial management practices.
    Citation
    Bahl, Roy. 2019. Rebalancing the Economy and Reforming the Fiscal System of the People’s Republic of China. © Asian Development Bank. http://hdl.handle.net/11540/9732. License: CC BY 3.0 IGO.
    PDF ISBN
    978-92-9261-513-0
    Print ISBN
    978-92-9261-512-3
    ISSN
    2520-6591(print)
    2520-6605(electronic)
    Keywords
    Urban Development Finance
    Trade Finance
    Small Business Finance
    Rural Finance
    Roundtable on International Trade and Finance
    Regional Development Finance
    Public Service Finance
    Public Finance
    Project Finance
    Private Finance
    Nonbank Financing
    Non-Bank Financial Institutions
    Municipal Finance
    Local Government Finance
    Local Currency Financing
    Limited Resource Financing
    International Financial Institutions
    Infrastructure Financing
    Industrial Finance
    Government Financial Institutions
    Government Finance
    Financing of Infrastructure
    Financial Sector Development
    Financial Regulation
    Economic evaluation
    Economic Forecast
    Resources evaluation
    Input output analysis
    Cost benefit analysis
    Foreign and Domestic Financing
    Cybersecurity
    Taxation
    Public Accounting
    National Budget
    Municipal Bonds
    Local Government
    Local Taxes
    International Monetary Relations
    International Financial Market
    International Banking
    Central Banks
    Business Financing
    Capital Resources
    Budgetary Policy
    Capital Needs
    Corporate Divestiture
    Capital Instruments
    Pension Funds
    Insurance Companies
    Banks
    Digital
    Portfolio Management
    Fiscal Administration
    Economics of Education
    Development Banks
    Scaling-Up And Evaluation
    Results-Based Monitoring And Evaluation
    Public Policy Evaluation
    Impact Evaluation
    Performance Evaluation
    Use tax
    Taxing power
    State of taxation
    Tax-sales
    Tax revenue estimating
    Tax planning
    Spendings tax
    Special assessments
    Tax administration and procedure
    Sales tax
    Real property and taxation
    Progressive taxation
    Effect of taxation on land use
    Effect of taxation on labor supply
    Intergovernmental tax relations
    Inheritance and transfer tax
    Energy tax
    Risk assessment
    Economic policy
    Economic forecasting
    Cost effectiveness
    Participatory monitoring and evaluation
    Show allCollapse
    Citable URI
    http://hdl.handle.net/11540/9732
    Metadata
    Show full item record
    Thumbnail
    governance-brief-034-prc-economy-fiscal-system.pdf (484.1Kb)
    Author
    Bahl, Roy
    Theme
    Finance
    Evaluation

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    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise