7. Ministry of Finance (MOF)
| Minister: | Xie Xuren |
| Vice Ministers: | Liao Xiaojun Li Yong Wang Jun Zhang Shaochun Ding Xuedong |
| Address: | 3 Nansanxiang, Sanlihe, Xicheng District, Beijing 100820 |
| Telephone: | 86-10-6855-1114 |
| Facsimile: | 86-10-6855-1560 |
| Website: | www.mof.gov.cn |
| Departments: | General Office; Policy and Program; Legal; Tax Policy; Tariff Policy; Budget; Treasury; National Defense; Administrative and Law Enforcement; Education, Science and Culture; Economic Construction; Agriculture; Social Security; Finance; International; Accounting; Supervision; State Rural Development Office; Personnel and Education; Bureau of Retired Officials, Office of State Council's Rural Tax and Fee Reform Working Group; Bureau of Supervision and Inspection; CCP Committee |
- Draft and execute fiscal and taxation policies and mid- and long-term planning; participate in mapping out macroeconomic, fiscal, and tax policies
- Draft and implement laws and regulations governing fiscal policy and financial and accounting management; organize talks with foreign counterparts on fiscal and debt issues and sign international agreements
- Prepare and implement annual budget and settle final account drafts of the central government; report results of budget and final account settlements at central and local departments to the NPC; administer the central government's gross revenue and off-budgetary capital and special fiscal institutions
- Propose tax legislation; examine drafts of tax laws and tax collection regulations with the State Taxation Administration (SAT); design fiscal and taxation revenue plans; participate in international taxation and tariff negotiations and sign resulting agreements; draft international taxation agreements; assume tasks formerly carried by the State Council's Tariff Regulations Commission
MOF is responsible for the macroeconomic management of the state's budget, financial and tax policy, revenues from taxes, treasury bonds, and hard currency reserves.
MOF's primary goals are to streamline and reduce the mounting debts of the country's financial and taxation sectors in cooperation with SASAC, SAT, the State Auditing Administration, and NDRC. MOF has also worked to implement a blueprint for unifying the tax system so as to standardize the collection of fees and taxes--widely criticized as arbitrary--at various government levels. Other key priorities include improving the state budgetary system and stepping up compliance and accountability with the eventual goal of establishing separate budgets for the central government and the social insurance system.
MOF has come to play a largely macro role in the reform of the financial management systems of SOEs and other public institutions, including monitoring budgetary and construction fund spending at local levels. MOF also oversees the issuance of T-bonds in addition to the negotiation of loans provided by foreign governments and is responsible for the non-governmental auditing sector. MOF has responsibility for the State Council's Tariff Regulations Committee and management of SOE assets (state-owned capital). MOF also drafts management regulations governing public assets.
MOF oversees China's government procurement, a process regularized under the 2002 Government Procurement Law. MOF sponsors a website on government procurement at www.ccgp.gov.cn.
Return to PART V: State Council 27 Ministries and Commissions