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Budget reform in China: Progress and prospects in the Xi Jinping era

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  • Christine Wong

Abstract

Fiscal reforms were central to the comprehensive programme of reforms announced at the Third Plenum of the 18th Party Congress in November 2013, during the first year of the Xi Jinping administration. One of the significant reforms on focus is public financial management (PFM). The urgency of PFM reform can be traced, paradoxically, to the extraordinary growth experienced by the Chinese economy during the first decade of this century, when easy money and weak accountability gave rise to unprecedented waste, corruption, and a mountain of local government debt.

Suggested Citation

  • Christine Wong, 2016. "Budget reform in China: Progress and prospects in the Xi Jinping era," OECD Journal on Budgeting, OECD Publishing, vol. 15(3), pages 27-36.
    • Handle: RePEc:oec:govkaa:5jm0zbtm3pzn
    DOI: 10.1787/budget-15-5jm0zbtm3pzn
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    Citations

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    Cited by:

    1. Xiao Tan, 2017. "Explaining provincial government health expenditures in China: evidence from panel data 2007–2013," China Finance and Economic Review, Springer, vol. 5(1), pages 1-21, December.

    More about this item

    Keywords

    China; economy; reform; budget; public financial management; intergovernmental; local government; debt;
    All these keywords.

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes
    • E66 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General Outlook and Conditions
    • H3 - Public Economics - - Fiscal Policies and Behavior of Economic Agents
    • H5 - Public Economics - - National Government Expenditures and Related Policies
    • H6 - Public Economics - - National Budget, Deficit, and Debt
    • H7 - Public Economics - - State and Local Government; Intergovernmental Relations
    • H8 - Public Economics - - Miscellaneous Issues
    • O23 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Fiscal and Monetary Policy in Development
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East
    • P2 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies
    • P3 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions
    • P5 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems

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