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Supervising government spending with a budget law would be a good start to force the government to save money. Eighty-two departments of the Chinese central government reduced their spending on receptions, vehicles and overseas travel by 420 million yuan ($68.4 million) in 2012. This represents 6.75 percent of their budgets.
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  • By Stephen S . Roach(China Daily)2016-05-04 08:03

    Thanks to fear mongering on the US presidential campaign trail, the trade debate and its impact on American workers is being distorted at both ends of the political spectrum. From China-bashing on the right to the backlash against the Trans-Pacific Partnership on the left, Republicans and Democrats ...

  • By Stephen S. Roach(chinadaily.com.cn)2016-05-03 12:49

    The price of fuel is seen on a pump at a gas station in Rockbridge, Ohio, Oil companies' cuts in gasoline prices have yet to be offset by greater retail spending in the United States. [Photo/Agencies]Thanks to fear mongering on the US presidential campaign trail, the trade debate and its impact on A...

  • (Xinhua)2016-02-25 11:32

    BEIJING -- China's vocational education has received more government support following a survey last year that exposed weaknesses in the system.By December, all provincial governments had set a budget for each student at vocational colleges and allocated the money to colleges , said Minister of Educ...

  • By Zheng Yangpeng(China Daily)2015-09-16 10:19

    Central authorities have seized up to 1 trillion yuan ($157 billion) from local governments that failed to spend their budget allocations, Reuters reported on Monday, citing unidentified sources.The news came as China's fiscal income slumped again to single-digit growth in August after two consecuti...

  • By Wang Xiaodong(China Daily)2015-04-18 08:10

    Government spending on official travel, vehicles and receptions reduced by 11.7 percent this year Government budgets for overseas travel, official vehicles and receptions will be reduced by 11.7 percent this year to promote frugality, the Ministry of Finance said on Friday. It said 6.31 billion yuan...

  • (Xinhua)2015-03-16 20:29

    BEIJING - Following is the full text of the Report on the Work of the Government delivered by Premier Li Keqiang at the Third Session of the Twelfth National People's Congress on March 5, 2015 and adopted on March 15, 2015:REPORT ON THE WORK OF THE GOVERNMENTDelivered at the Third Session of the 12t...

  • (China Daily)2015-03-09 08:25

    How much does the government spend a year on overseas travel by officials, their business cars and business banquets? Asked the question at the National People's Congress, Minister of Finance Lou Jiwei said there is no clear accounting, and he "roughly estimated" the spending as more than 40 billion...

  • (Xinhua)2014-09-01 08:55

    BEIJING - China's top legislature on Sunday adopted a revision to the Budget Law which clears ambiguity and closes loopholes in managing the trillions of yuan involved in fiscal revenue and spending. This is the first time the Budget Law has been revised since it took effect in 1995. As the law is c...

  • (chinadaily.com.cn)2014-01-24 14:51

    Carrying out budget system reform is the best way to exert effective inspection and supervision over the making and execution of government budgets, says an article in Beijing News. Excerpts:In the recently concluded annual sessions of the local legislatures, or People's Congress, across China, loca...

  • (China Daily)2014-01-20 07:04

    Policy | Giles Chance China faces some critical choices as it travels further down the road to reform, progress Is this the year in which China can convince skeptics that it can make the transition to a modern, high-productivity economy? Or will powerful vested interests block change, prolonging s...

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