Ministry of Finance

A macro-control and regulation organ in charge of financial expenditures and revenues, financial and taxation policies, and the basic work of state-owned capital, the ministry shoulders the following main responsibilities, namely, to formulate and implement financial and taxation development strategies, policies, guidelines, long- and medium-term plans, reform plans and other related policies, take part in the mapping out of various macro-economic policies, put forward proposals on using financial and taxation policies to realize macro-control and comprehensive balance of social wealth, formulate and implement distribution policies between the central and local authorities and between the state and enterprises; draft laws and regulations concerning finances, administration of state-owned capital and accounting, formulate and implement such regulations, organize international negotiations and drafting of agreements concerning finance and debts involving foreign countries; draft annual central budgets and organize the implementation, report on the central and local budgets and their implementation to the National People's Congress and report to the Standing Committee of the National People's Congress on the final accounting as entrusted by the State Council; manage revenues of the central finance, capital outside the central budget and special financial accounts, and administer government funds; propose legislative plan on taxation, make arrangement and finalize financial and taxation revenue plans according to state budget, put forward proposals on the increase or reduction of taxes, readjustment of tax items and rates, reduction and exemption of taxes and provisional and special tax reduction and exemption which are of great impact on the central finance, take part in the negotiation on taxation involving foreign countries and international tariff, conclude the drafts of taxation agreements involving foreign countries, draft model copies of international taxation agreements, and take care of the routine work of the Tariff Regulation Committee of the State Council; manage the public expenditure of the central finance, draft and implement policies regarding government purchasing, manage the non-trade foreign exchange of administrative organs, government institutions and social organizations within the financial budget and the international balance within the financial budget; formulate and implement the policies, guidelines, reform plans, rules and regulations and methods of administration of state-owned capital, organize the implementation of making inventories of the assets and liabilities of state-owned enterprises, the definition and registration of the ownership and rights of capital and assets, be in charge of the statistics and analysis of state-owned capital, and guide the appraisal of properties; formulate and implement government policies, guidelines, rules and regulations and methods of management of domestic debts, compile plans of the issue of treasury bonds, formulate government policies and guidelines, rules and regulations and methods of management of foreign debts; supervise the implementation of policies, guidelines, laws and regulations on finance and taxation; and check and report on important issues in the manage ment of financial expenditure and revenue and put forward policy proposals on strengthening financial management.

An office for overseeing personnel work and promotion of the reform of the personnel system, the ministry has the following major responsibilities: to study and formulate plans for the reform of the personnel system, formulate policies and regulations on personnel administration, establish a scientific and legal-based personnel administrative system and supervise the implementation of such a system; study and formulate policies regarding the definition of job requirement and the split-flow of staff members during institutional reform; formulate macro-policies on overall plans, readjustment of the structure and salary distribution of employees in government offices and institutions; compile plans on the staff and their salaries of government offices and institutions; administer the building of the ranks of technological staff in the country and take charge of the planning and development of human resources. The ministry also oversees the State Foreign Expert Bureau.

The ministry operates 11 departments: the general affairs office, policy and regulation department, planning and finance department, administrative department of technological staff, civil servants department, enterprise leaders bureau, office of the special inspectors administration, human resource and flow department, salary, welfare and the retirees department, relocation of demobilized army officers department and international exchange and cooperation department.