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Making China’s Public Sector Capital Investments Sustainable : Priorities and Selected International Experiences (English)

The objective of capital budgeting institutions and practices is to ensure linkages between key policy objectives and actual budget resource allocation related to public investments.The report serves to inform China’s policy objectives towards strengthened fiscal sustainability and enhanced capital investment efficiency at the sub-national level.Capital budgeting represents a sub-set of a wider set of internationally-accepted good practices in public investment management (PIM).As a subset of public investment management, capital budgeting is principally concerned with 1) imposing a hard budget constraint on capital expenditures; 2) securing effective and sustainable financing for public infrastructure; and 3) prioritizing capital investment projects within the available resource envelope.Sub-national governments in China have not systematically linked capital plans with budget financing.The 2014 Budget Law suggests a growing need to strengthen capital budgeting practices at the sub-national level.The boundaries of sub-national financial and physical balance sheets will need to be progressively clarified in China.The report suggests that a sub-set of five PIMA Indicators can help benchmark and orient sub-national capital budgeting reforms in China.Indicative PIMA benchmarks suggests that China’s sub-national governments can make significant progress by focusing on a number of initial basics.This background review is designed to help Chinese authorities identify and implement capital budgeting to meet local priorities. ... See More +

Report 130288 SEP 27, 2018

Kaiser,Kai-Alexander; Pradelli,Juan; Zhao,Min Disclosed

Hardening Budget Constraints for Sustainable Public-Sector Investments : A Capital Budgeting Approach Proposal for China (English)

The objective of this note is to set-out the rationale and priorities for strengthening public capital budgeting practices at the sub-national levels in China. ... See More +

Report 130287 JUL 04, 2018

Disclosed

Using the Government Financial Reporting Framework to Redraw the State and Market Boundary in China : A Two-Step Approach (English)

After four decades of remarkable economic achievement under market reforms, the leadership has called for a reset in the boundary between the State and the Market as an importantcorrective to help China sustain rapid economic growth, by imposing hard budget constraints ongovernment and insulating SOEs from local government predation. ... See More +

Report 130286 JUN 01, 2018

Disclosed

Enhancing Budget Transparency in China : A Practical Note on Mechanisms and Tools (English)

Budget transparency has the potential to lead to greater fiscal credibility and performance aswell as cheaper credit, improved allocations of resources for better provision of public services;while limiting corruption and wasteful spending.Budget transparency is not a goal, but a prerequisite for public participation and accountability. ... See More +

Report 130285 JAN 01, 2018

Zhao,Min; Vaira,Carolina Luisa Disclosed

Modernizing Public Governance : International Experience and China’s Experiments (English)

The Chinese Academy of Governance and the World Bank jointly organized a high-level workshop on how public governance reforms can improve government performance and strengthen citizens’ trust in government. ... See More +

Report 130282 DEC 12, 2017

Zhao,Min; Blum,Jurgen Rene Disclosed