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The Effects of Reform on China’s Public Budgeting and Accounting System

  • James L. Chan
  • Shuhai Cong
  • Jianyong Zhao
Chapter

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.

Keywords

Administrative Unit Accounting Standard Government Revenue Public Budget Capital Budget 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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References

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Copyright information

© Springer Science+Business Media Dordrecht 2001

Authors and Affiliations

  • James L. Chan
  • Shuhai Cong
  • Jianyong Zhao

There are no affiliations available

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