Spending scrutiny to step up sharply

New system to put financing and investment by central, local govts in spotlight

The Chinese government is building a nationwide system to monitor all types of government income and expenditure under the budget, along with tightening regulations on infrastructure investment and local government debt.

The budget performance evaluation and management system will bring government-managed funds, State-owned capital and social security funds into budget management. It will expand the supervision scale to all investment and financing activities by both central and local governments, Hao Lei, deputy director of the Budget Department of the Ministry of Finance, told China Daily.