Money matters : local government finance in the People's Republic of China / Asian Development Bank.

Format:

Book

Author/Creator:

Asian Development Bank, author.

Contributor:

Asian Development Bank.

Language:

English

Subjects (All):

Local finance--China.

Local finance.

Local taxation--China.

Local taxation.

Physical Description:

1 online resource (149 p.)

Edition:

1st ed.

Place of Publication:

Metro Manila, Philippines : Asian Development Bank, 2014.

Language Note:

English

Summary:

The Third Plenum of the 18th Central Committee of the Communist Party of China in November reinforced the importance of public finance reform. Drawing on recent technical assistance from the Asian Development Bank (ADB), special reports, and the work of ADB staff, the publication offers observation and suggestion on how to pursue public finance reform. The publication also outlines practical actions that can be taken to improve budgeting, taxation, and the system of fiscal decentralization in the People's Republic of China. Special attention is given to the management of local government debt, the most pressing fiscal issue facing the People's Republic of China. The potential contribution of public-private partnerships is also introduced.

Contents:

Cover; Contents; Figures and Tables; Figures; A: Aggregate Trends in Public Finances; B: Key Public Finance Initiatives of the Third Plenum; C: ADB's Suggestions on Local Government Financing; D: ADB's Suggestions on Budget Improvements; E: ADB's Suggestions on Tax Reform; F: ADB's Suggestions on Fiscal Decentralization; 2.1 Central and Local Government Tax Revenue and Expenditure; 2.2 Government Debt, as of mid-2013; 2.3 Growth in Local Government Debt; 2.4 Local Government Explicit Debt and Other Obligations; 2.5 Debt Projections, by Scenario (ratio to GDP, %)

2.6 Local Government Debt, by Source and Borrower, as of mid-20132.7 Typical Structure of a Local Government Investment Vehic; 2.8 Gross Proceeds from Land-Based Financing; 2.9 Growth of Local Bond Financing, CNY billion; 2.10 Consequences of Implicit Guarantees; 4.1 Sources of Revenue, 2013; 4.2 Business Tax Revenue; 4.3 Domestic Revenue from Value-Added Tax; 4.4 Property Tax Revenue, 2013; 4.5 Domestic Consumption Tax Revenue; 4.6 Energy Subsidies, 2011; 4.7 Projected Road Revenue and Expenditure; 4.8 Resource Tax Revenue, 2013 (percent); 4.9 Enterprise Income Tax Revenue

4.10 Personal Income Tax Revenue5.1 International Comparisons of Decentralization; 5.2 Government Expenditure, by Function, 2013; 5.3 Tax Revenue and Expenditure by Province, 2012; 5.4 Variation in Tax Revenue between Provinces; 5.5 Transfers and Gross Regional Product, by Province, 2012; 6.1 Key Public Finance Initiatives of the Third Plenum; A2.1 Vertical Structure of Government in the PRC; A2.2 Distribution of Expenditure by Level of Government in 2009 (percent); Tables; 2.1 Debt Sustainability Indicators in the US States; 2.2 Sample Indicators for an Early-Warning System in the PRC

2.3 Main Types of Public-Private Partnerships6.1 Suggested Actions for Public Finance Reform; A2.1 Resource Tax Reform of 2011; A2.2 Revenue, 2013; A2.3 Distribution of Tax Sources, by Level of Subnational Government, 2009; A2.4 Assignment of Key Taxes, 2013; A2.5 Taxes and Other Sources of Revenue, by Level of Government, 2009; A2.6 Intergovernmental Transfers from the Central Government, 2012; Boxes; 2.1 Revenue Bonds versus Budget-Backed Bonds; 2.2 Brazil's Approach to Local Government Borrowing; 3.1 The Three Steps in Budget Preparation under Hebei's Medium-Term Expenditure Framework

3.2 How Public-Private Partnerships Can Improve Budget Outcomes4.1 Different Roles of Taxation; 4.2 Key Lessons from Tax Reform; 4.3 Difficulty of Applying Value-Added Tax to Financial Services; 4.4 International Approaches to Applying the Value-Added Tax to Financial Services; 4.5 Lessons from International Experience with Property Taxes; 5.1 Some Empirical Observations; Foreword; Acknowledgments; Abbreviations; Summary; I. Introduction; II. Standardizing Local Government Financing; A. Introduction; B. State of Play; C. Established Financing Instruments

D. Deepening the Local Government Bond Market

Notes:

Description based upon print version of record.

Includes bibliographical references.

Description based on print version record.

ISBN:

9789292548223

9292548220

OCLC:

938788271