| 1. |
To formulate and implement strategies, policies and guidelines, mid-term and long-term development programs and reform programs of public finance and taxation; to participate in macroeconomic policy making; to provide policy advice on macroeconomic regulations and balanced allocation of public funds with fiscal instruments; to formulate and implement policies regarding income distribution between the central and local governments and between the state and enterprises. |
| 2. |
To draft laws and regulations on public finance and financial and accounting management; to enact and implement regulations and rules on fiscal, financial and accounting management; to organize international negotiations on external finance and debts and sign related agreements/accords. |
| 3. |
To compile the drafts of annual central government budgets and final accounts; to organize budget implementation; to present reports on the central and local budgets and their implementation to the National People’s Congress and reports on the final accounts to the Standing Committee of the National People’s Congress on behalf of the State Council; to administer the public revenue, the extra-budgetary funds and the special accounts of the central government; to administer other governmental funds. |
| 4. |
To propose tax legislation plans, review proposals on tax legislation and tax collection regulations with the State Administration of Taxation before reporting to the State Council; to formulate tax collection plans according to the budget; to propose adjustments on tax items, tax rates and tax incentives, including those temporary and special tax incentives that have a major bearing on the central finance; to participate in foreign-related tax negotiations and international tariff negotiations; to sign foreign-related tax agreements/accords; to formulate tax agreement and convention templates; to perform the secretariat functions for the Tariff/Tax Regulation Committee of the State Council. |
| 5. |
To administer the central expenditures; to formulate and implement government procurement policies; to manage the budgetary non-trade-related foreign exchange of government agencies, public institutions and social organizations as well as budgetary balance of payment; to promulgate national uniform standards and policies of some expenditures; to formulate and implement the Accounting Regulation for Public Institutions and the Accounting Regulation for Government Agencies; to formulate financial regulations on capital construction. |
| 6. |
To formulate and implement the distribution policies for the state and enterprises, to manage expenditures from the central treasury to support enterprises; to promulgate and implement the General Principles of Enterprise Accounting; to supervise financial management of the enterprises directly affiliated to the central government and manage the proceeds of state-owned capital; to consolidate and analyze the final annual financial accounts of national enterprises. |
| 7. |
To administer and supervise the central government expenditures for economic development, the appropriation for central government financed projects, and funds for technological innovation and new product testing; to manage central government funds for comprehensive development of agriculture; to formulate and supervise the implementation of the General Principles on Enterprise Accounting. |
| 8. |
To manage the social security expenditures from the central government; to formulate the accounting management rules on social security funds; to monitor the utilization of the social security funds. |
| 9. |
To formulate and implement policies, rules and regulations on managing government’s internal debts; to prepare plans for treasury bond issuance; to formulate policies, rules and regulations on managing government’s external debts; to undertake external negotiations/talks on loans from foreign governments, World Bank, Asian Development Bank and Japan Bank for International Cooperation; to participate in international financial organizations on behalf of the Chinese Government. |
| 10. |
To formulate and implement accounting regulations and the Enterprise Accounting Standards; to formulate and monitor the implementation of the government’s overall budgets and accounting regulations governing the government agencies, public institutions and industries; to guide and monitor the operations of certified public accountants and accounting firms; to guide and regulate the auditing business; to review and approve the establishment of representative offices and branches of foreign accounting firms in China. |
| 11. |
To monitor the implementation of fiscal and tax policies, laws and regulations; to identify the major problems in the management of fiscal revenues and expenditures; to put forward policy suggestions on strengthening fiscal management; to administer resident offices of the Fiscal Supervision Commissioners. |
| 12. |
To formulate fiscal research and education plans; to organize fiscal training; to promote fiscal information dissemination. |
| 13. |
To undertake other assignments designated by the State Council. |
