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Tuesday, May 28, 2013
Reform of the Budget Law: Difficulties and Problems
ANBOUND

The budget law is known as the "constitution" for the Chinese economy. Indeed, it is a very important guide for national public fiscal management and economic macro-control measures. Both citizens and governments are influenced by it. The current Chinese budget law has been conducted for 18 years and needs amendment. However, in China, the amendment of budget law is not only about legislation but also about the governmental and social reforms. The restriction on the governments' rights is the most important issue in the budget law management. This report analyzes the amendment of budget law, outlining its difficulties and problems.

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