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Finance minister lists problems in implementing budget
(chinadaily.com.cn)
Updated: 2004-03-06 10:26

Better results than expected were obtained in implementing China's 2003 central and local budgets, but there are still problems that cannot be ignored, Chinese Finance Minister Jin Renqing said here Saturday.

In his report on central and local budgets delivered to the national legislature's annual session, Jin listed the problems as follows:

-- Revenue is seriously stretched to meet expenditures and the problem is so severe that the government lacks the financial resources to do many things that need to be done;

-- Potential risks arising in the course of economic development constantly impinge on budget implementation, hence it is very difficult to prevent and defuse financial risks;

--- The pattern of expenditures still needs to be adjusted and the government does not yet give more financial support to the development of social undertakings, with people still not having adequate access to schools, doctors, potable water and transportation in some regions, especially in rural areas;

-- Primary-level authorities in some areas still have financial difficulties, as is manifested in delayed wage payments there; and

-- Falsification of accounts, tax evasion and fraud, and extravagance and waste remain serious problems, with the financial and economic order yet to be further standardized and budgetary funds to be used more efficiently.

"We must deal with these problems conscientiously and solve them step by step by increasing our sense of urgency and mission, enhancing our sense of responsibility when handling financial affairs in the interest of our people, accelerating the development of the public finance system and working energetically to improve the socialist market economy," the minister said.

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