China To Strengthen Supervision On Expenditure Budget And Policy

China will conduct a reform to enhance legislatures’ review and supervision concerning expenditure budget and relevant policies, official told CGTN on Monday at a press conference.


The reform calls for a people-centered approach, regarding people’s aspirations for a better life as the goal. It promotes expenditure budget and policies and improves people’s wellbeing, said Liu Xiuwen, deputy director of the Budgetary Affairs Commission of the National People Congress (NPC) Standing Committee.


He spoke at the press conference on the supervisory work of NPC, referring to a guideline issued by the General Office of the Communist Party of China (CPC) Central Committee in early March before the two sessions.


The reform is aimed at strengthening the legislatures’ review and supervision on budget in accordance with the law. It is an important measure to establish and perfect the budget review and supervision system with Chinese characteristics, Liu said.


In the past, review and supervision of government budget emphasized on the size of deficit and balance of budgeted revenue and expenditure, but did not pay enough attention to expenditure budget, policies, and the efficiency of fiscal fund and policies, according to the guideline.


Now China will enhance scrutiny of review and supervision on budgeted revenue to prevent any distortion.


In the long run, the guideline requires the budget review and supervision work to focus on solving problems and to develop a long-term mechanism to face challenges, according to Liu.


Source: CGTN