Abstract
Government accounting in the West does not have an exact counterpart in China. After the People’s Republic of China (PRC) was established in 1949, ‘government accounting’, being associated with the previous regime, with its Western capitalist orientation, was replaced by socialist ‘budget accounting’. The latter, with its explicit recognition of the vital role of the government budget in a planned economy, has been in use in China for almost fifty years. During its first three decades, the PRC had a highly centralized system, with the national government monopolizing virtually all aspects of the economy and the public sector. However, since 1978 market reform has gradually reduced the primary role of the state (including state owned enterprises) as the producer of goods and services. More recently, the central government has transferred some taxing authority and service responsibility to provincial and local governments.
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© 2001 Springer Science+Business Media Dordrecht
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Chan, J.L., Cong, S., Zhao, J. (2001). The Effects of Reform on China’s Public Budgeting and Accounting System. In: Bac, A.D. (eds) International Comparative Issues in Government Accounting. Springer, Boston, MA. https://doi.org/10.1007/978-1-4757-5563-3_18
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DOI: https://doi.org/10.1007/978-1-4757-5563-3_18
Publisher Name: Springer, Boston, MA
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