Jiangsu Finance Department

updated on: 2008-05-26  source:

  Major functions:

  (1) To draft and implement the development strategy, guidelines and policies, medium-term and long-term plan, reform plan and other policies related to finance and taxation; to participate in the formulation of macro economic policy; to propose the suggestions to implement macro regulation and balance social fortune through the financial and taxation policy; to draft and implement the distribution policy between province and cities and nation and enterprises.

  (2) To draw up the drafts of relevant local rules and regulations on finance, basic management on state-owned capital, management on the government’s assets and accounting management; to  formulate and implement the relevant policies of financial affairs and accounting management.

  (3) To draft the provincial annual financial budgets and organize the implementation; to report to the Provincial People’s Congress the financial budgets for the previous year and their implementation and report to the Standing Committee of the Provincial People's Congress on the draft of the final accounts; and report to on the execution situation of and the draft of the financial budgets for the current year, entrusted by provincial people’s government; to administrate all provincial financial revenue, capital out of budgets and financial accounts; to administrate financial funds of provincial government; to work with relevant departments to set up, approve and report to the higher authority the administrative institutional charges and government fund; to participate in the work of cracking down upon random collection of fees to reduce the burden of enterprises and farmers.

  (4) To propose the plan of making local taxation law and work with the relevant departments to draft and deliberate the local taxation rules and regulations; to ensure the plan for financial revenue according to the budget arrangement; to propose to increase and reduce local taxes, adjust the tax rate and suggest to temporarily reduce and rebate the tax on the special cases exerting strong influence on provincial finance within the rights limits authorized by the state government; to administrate the work of tax rebate and refund.

  (5) To administrate the public expenditure of provincial finance; to draft and implement government procurement policy; to administrate the non-trade foreign exchange earnings of state administrative organs, institutions and social organizations; to formulate the expenditure standard and financial management measures of administrative institutions; to supervise the implementation of the “Regulation on Administrative Organs’ Finance”, the “Regulation on Institutions’ Finance”.

  (6) To draft and implement the policies, reform plan and management measures on state-owned assets management; to supervise the implementation of the General Rules on Enterprise Finance and be responsible for the formulation and supervision of provincial financial system; to be responsible for checking the assets and capital of state-owned enterprises and demarcating and registering the capital ownership; to be responsible for calculating, analyzing state-owned capital and directing assets appraisal; to administrate and supervise the state-owned assets ownership exchange market.

  (7) To be responsible for levying and managing agricultural taxes; to direct the township financial construction in the province.

  (8) To administrate expenditure of the infrastructure construction of provincial finance; to formulate and supervise the implementation of the financial management system for infrastructure construction; to be responsible for the urban maintenance construction capital and financial management.

  (9) To administrate the provincial financial expenditure in social security; to draft and implement the financial management systems of social security capital; to organize the implementation of the financial supervision on the use of social security capital.

  (10) To supervise and administrate the financial affairs and assets of local business banks and non-banking financial enterprises.

  (11) To be responsible for studying and formulating foreign-related financial policies; to implement the guideline , policy and regulation on the management of domestic and overseas debts and national debt issuing plan and formulate the local relevant supporting policy and regulation; to be responsible for foreign negotiation and conciliation on the loans by foreign government, the World Bank, Asian Development Bank and Japan Bank for International Cooperation.

  (12) To participate in the reform on housing and land use system and draft and supervise the financial and accounting management measures on housing capital and the revenue from national land lease.

  (13) To administrate the provincial accounting work; to supervise and implement accounting regulation system, the Norm of Enterprise Accounting, the general budget of the government and the accounting system of administrative institutions and different industries; to direct and administrate social auditing, to implement and direct the system of appointing accountants.

  (14) To supervise the implementation of the guideline, policy, laws and regulation of local finance; to examine and report the serious problems in the financial balance management; to propose the suggestion on strengthening financial management.

  (15) To formulate the plan for financial scientific research and education; to organizing the training of financial personnel; to be responsible for financial information and publicity.

  (16) To undertake other matters assigned by the provincial government.

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