(Source: "China Financial News" 2025-01-18)
Editor’s note:
The National Fiscal Work Conference pointed out that in 2025, the reform of the fiscal and taxation system will be deepened, scientific fiscal w88 slot will be strengthened, the efficiency of fund use and policy effectiveness will be improved, and the economy will continue to rebound and improve. This issue of "Performance Talk" focuses on the new tasks and new formulations determined by the fiscal work conference. Industry experts are specially invited to share with readers the highlights of my country's budget performance w88 slot work in 2024. It also explores how to implement fiscal work in 2025, insist on w88 slot, tap potential, and spend money to get results.
Moderator: Li Jialiang, our reporter
Guests:
Zheng Yong, member of the Party Committee and Vice President of Xiamen National Accounting Institute
Li Ming, Dean and Professor of the w88 casino of Government, w88 casino
Shi Shaobin, Executive Vice Dean and Professor of w88 casino of Economics, Shandong University
Cao Tangzhe, professor at Central University of Finance and Economics, president of Beijing Institute of Cost Performance w88 slot Technology
Reporter: In 2024, what role does budget performance w88 slot play in the solid implementation of proactive fiscal policies, and what is its effectiveness? What important role has it played in promoting the zero-based budget reform pilot?
Zheng Yong: In 2024, in the context of the prominent contradiction between fiscal revenue and expenditure, fiscal and budget units at all levels took the lead and faced the difficulties, making full use of budget performance w88 slot tools, tapping internal potential, optimizing the expenditure structure, using w88 slot to achieve benefits, seeking performance from reform, and ensuring the solid implementation of proactive fiscal policies and various measures to protect people's livelihood. For example, the Inner Mongolia Autonomous Region promulgated the "Regulations on Budget Performance w88 slot of the Inner Mongolia Autonomous Region", marking another province after Qinghai Province that has made a new breakthrough in the legislative level of budget performance w88 slot; the full-cost performance w88 slot of major projects, people's livelihood security, urban operations, and administrative operations in Shanghai and Beijing has continued to deepen and bear fruit; In 2025, fiscal work will still face great challenges. There is huge room for optimizing increments and revitalizing existing stocks, and there is huge room for improvement and expansion in budget performance reform.
Zero-based budgeting is a major innovation in budget preparation. It is the "golden key" to fundamentally change the fixed pattern of budget fund allocation and make good use of the stock of fiscal funds. In accordance with the 2025 central department budget preparation arrangements, all central departments and units are guided by the concept of zero-based budgeting, optimizing project expenditure settings, breaking the inherent base number, and improving a budget allocation mechanism that maintains pressure and emphasizes performance. The Ministry of Finance has selected 16 central budget units to implement zero-based budget pilots. After Zhejiang and Anhui took the lead in implementing zero-based budget reform, provinces and regions such as Jilin, Hunan, Inner Mongolia, and Shanxi have launched zero-based budget reform plans in 2024. Zero-based budget reforms in cities and counties such as Guangzhou, Jinan, and Zhuhai have also achieved substantial results.
Li Ming: Since the Third Plenary Session of the 16th Central Committee of the Communist Party of China proposed "establishing a budget performance evaluation system", our country has systematically deployed "whole-process budget performance w88 slot" and built an "all-round, full-process, full-coverage" budget performance w88 slot system, and the "four beams and eight pillars" pattern of budget performance w88 slot has been generally established.
In 2024, our country will continue to implement proactive fiscal policies and strive to improve the quality and efficiency of policies, which is inseparable from the important support and guarantee of budget performance w88 slot. On the one hand, performance w88 slot plays a more important role in budget resource allocation and budget preparation. Most provinces, cities, and counties in my country have increased the intensity of ex-ante budget performance evaluation and embedded ex-ante evaluation into policy and project decision-making processes to ensure that budget funds are used in an optimal and economical direction; on the other hand, budget performance operation monitoring has received more attention. The survey over the past year found that the vast majority of regions, departments and units, relying on the integrated budget w88 slot system, have increased monitoring of the achievement of performance goals and budget implementation progress, adjusted surpluses or shortages, and corrected performance deviations.
Zero-based budgeting is an important measure to optimize the structure of fiscal expenditure and break the tight fiscal balance. There is a mutually supportive relationship between zero-based budgeting reform and budget performance w88 slot. On the one hand, the focus of zero-based budget reform is to break the base. How to "establish" after "breaking" requires clear policy and project expenditure directions, scientifically setting performance goals, reasonably determining expenditure standards, and using performance evaluation results as the key basis for determining expenditure directions. On the other hand, zero-based budgeting is the starting point of whole-process performance w88 slot, and whole-process performance w88 slot is also an important guarantee for the implementation of zero-based budgeting. It is crucial to strengthen systematic planning and coordination between zero-based budgeting and performance w88 slot reform.
Cao Tangzhe: The keynote of implementing proactive fiscal policies in 2024 is "appropriate strengthening, improving quality and efficiency", and budget performance w88 slot is an inherent requirement and important support for implementing proactive fiscal policies. Through the comprehensive implementation of budget performance w88 slot, especially expanding the focus of budget performance w88 slot from projects to policies, and improving the tracking and effectiveness of fiscal policies throughout their life cycles, it will help to actively improve the quality and efficiency of fiscal policies.
In 2024, financial departments across the country made active explorations, especially in the performance-oriented policy evaluation, clean-up and integration. Anhui, Jiangsu, Zhejiang, Inner Mongolia and Jinan City carried out policy evaluation, clean-up and integration work in conjunction with zero-based budgeting.
In 2024, the budget performance w88 slot work will give more emphasis to the policy life cycle budget performance w88 slot. For example, the Ningbo Municipal Finance Bureau has established a system to strengthen pre-evaluation around "preparation, review, and use" in its ex-ante performance evaluation, classifying and grading, and accurately preparing it. At the same time, we focus on method innovation, carry out departmental collaboration, and conduct classified reviews.
The budget performance w88 slot service zero-based budget reform provides an effective path for the implementation of zero-based budgeting, which is specifically reflected in the following six aspects: First, performance provides a basic reference for zero-based budget preparation; second, improving the performance planning system helps to achieve zero-based budgeting to "break the base"; third, classification Carrying out budget performance w88 slot helps to implement zero-based budgeting to "maintain key points"; fourth, cross-department budget performance w88 slot helps to implement zero-based budgeting to "promote overall planning"; fifthly, research-based performance evaluation helps to realize zero-based budgeting to "improve performance"; sixthly, cost budget performance w88 slot consolidates zero-based budgeting to "check costs" and "output standards".
Reporter: In 2025, we must deepen the reform of the fiscal and taxation system, strengthen scientific fiscal w88 slot, and improve the efficiency of fund use and policy effectiveness. In your opinion, what role does budget performance w88 slot play in improving the efficiency of fund use and policy effectiveness?
Cao Tangzhe: Comprehensive implementation of budget performance w88 slot at the government level, department level, policy and project level will help improve the efficiency of fund use and policy effectiveness.
At the policy level, budget performance w88 slot promotes the improvement of the quality and efficiency of fiscal policies mainly by implementing full-process budget performance w88 slot of fiscal policies and applying performance concepts and methods such as economy, efficiency, effectiveness, sustainability, and cost-effectiveness to all aspects of fiscal policy formulation, implementation, final accounts, and supervision, thereby improving the scientificity and accuracy of fiscal policies, optimizing expenditure structures, optimizing policy tools and policy input methods, identifying policy support standards, and improving policy effectiveness and sustainability.
At the department level, establish an overall department budget performance w88 slot system, establish a logical chain of policies-functions-tasks-projects-funds, identify the corresponding relationship between inputs and outputs, use performance to promote overall planning, use performance to optimize the structure, use performance to improve efficiency, use performance as the starting point to optimize department budget resource allocation, improve operational efficiency, and support the performance of duties.
At the project level, the performance information provided by budget performance w88 slot plays a fundamental and decisive role in decision-making in budget preparation, execution, final accounts, supervision and other aspects, ensuring that money spent is effective, effective and has long-term effects.
Zheng Yong: The fiscal work conference clearly requires that scientific fiscal w88 slot be strengthened in 2025. The main focus is to improve the efficiency of the use of existing funds and policy effectiveness. In 2024, the national general public budget expenditure will exceed 28 trillion yuan, and the total budget of government funds, state-owned capital operation budgets and social insurance funds will reach more than 40 trillion yuan, accounting for more than 1/3 of GDP. If we can reduce costs and increase efficiency by 5% through performance w88 slot, we can create more output, improve the quality of public services, and thereby improve public satisfaction and happiness.
Shi Shaobin: In addition to paying attention to the efficiency of the use of fiscal funds, this meeting also paid attention to policy effectiveness, which also showed to a certain extent that the scope of budget performance w88 slot has gradually expanded from fund performance to policy performance. This is basically consistent with the reform context in which the focus of the NPC's budget review and supervision is expanding to expenditure budgets and policies. The Third Plenary Session of the 20th Central Committee of the Communist Party of China clearly pointed out in improving the macroeconomic governance system that it is necessary to enhance the consistency of macroeconomic policy orientations. Therefore, strengthening the review, supervision and performance evaluation of policies will be the key direction of reform in the next step.
Li Ming: Policy performance evaluation is an important part of budget performance evaluation. Policy performance is the output and effect of a certain or comprehensive fiscal policy. Expenditure policy performance evaluation is particularly important.
The promotion of policy performance evaluation by various localities or departments is an integral part of the implementation of budget performance w88 slot deployment. It is also an objective requirement for improving policy effectiveness and fund use performance. However, from a practical point of view, it still needs further improvement, which is mainly determined by the particularity of policy performance evaluation. First, many policies are supported by multiple types of projects, and the compatibility of performance goals and evaluation indicators is insufficient; second, many supporting projects are cross-regional and are not very comparable, making comprehensive evaluation difficult, and the evaluation work requires a lot of manpower and material resources; third, it takes a long time for policy output and effects to appear, and the spillover effect is large. From a purely short-term and local perspective, the evaluation deviation is large. To sum up the objective situation, many localities or departments currently pay more attention to evaluating policy performance from a w88 slot perspective, and a scientific policy performance evaluation framework needs further exploration.
Reporter: Adhering to w88 slot to tap the potential and spending money to achieve results is one of the key points to do a good job in financial work in 2025. In your opinion, how to achieve results in budget performance w88 slot?
Li Ming: The fundamental purpose of budget performance w88 slot is to obtain benefits from w88 slot. The implementation methods mainly focus on two aspects: on the one hand, adhere to the performance orientation, allocate budget funds, and optimize the expenditure structure; on the other hand, strengthen performance operation monitoring to ensure that expenditures are compliant and timely, and improve the efficiency of fund use.
Under the current background, spending money to ask for results has become an important content and guarantee of proactive fiscal policy. Our country has implemented proactive fiscal policies for many years. In the past, it paid more attention to the scale of expenditures, the growth rate of expenditures, and the deficit rate, which is of great concern to the society. In recent years, the concept of “increasing efforts to improve efficiency” has been integrated with the concept of spending money to achieve results. Strengthening refers to quantitative regulations, such as the scale and growth rate of fiscal expenditures from the perspective of deficit ratio; improving efficiency refers to improving quality and efficiency. When my country implements proactive fiscal policies, it takes into account both the dimensions of "strengthening" and "improving efficiency", but in the context of continued tight balance in budget revenue support, the latter may be more important. The key to improving efficiency is to do a good job in budget performance w88 slot, insist on tapping inward potential, and seek efficiency from w88 slot; at the same time, enhance the consistency of policy orientation and amplify the combination effect.
Shi Shaobin: In recent years, as fiscal revenue continues to be in a state of tight balance, the importance of spending money to achieve results has become more prominent. Really using fiscal funds on the "blade" is a concrete practice of "being stingy with small money and generous with big money." In this process, continuous efforts need to be made in three aspects:
First, by establishing full-chain performance w88 slot, strengthening full-process w88 slot, strengthening performance evaluation, and establishing a results application and feedback mechanism to improve the efficiency of the use of fiscal funds.
The second is to establish closed-loop w88 slot of cost, performance and budget, and promote governments at all levels, departments and units to firmly establish the concept of cost performance. Some regions have promoted zero-based budget w88 slot in accordance with the concept of "plan things first and spend money later" to effectively alleviate problems such as large rigid expenditure needs and relatively solid expenditure structures.
The third is to strengthen goal orientation and result orientation. Through budget disclosure, the awareness of performance responsibilities of departments and units will be continuously improved.
Cao Tangzhe: The concept of "spending money to ask for results" is mainly reflected in the five aspects of "building a career through performance", "asking about performance to measure costs", "asking for financial resources from performance", "evaluating performance for optimal w88 slot" and "managing performance for optimal structure". Specifically:
"Building a career based on performance" is to straighten out the relationship between "things" and "money", which helps to establish a mechanism of planning things first and then allocating money; "asking performance to measure costs" straightens out the relationship between costs and performance, which helps to scientifically measure the budget scale and lays the foundation for the establishment of a standard and scientific modern budget system; "demanding financial resources from performance" is achieved through pre-event evaluation, cost budget performance analysis, performance target review, budget execution monitoring and performance evaluation. Performance results are linked to budget results to achieve the goal of demanding financial resources for performance; "Performance w88 slot optimization", through the implementation of pre-assessment, performance target review, performance evaluation and other tasks, will help optimize w88 slot; "Performance w88 slot optimization structure", through key performance evaluation, establish an input and output indicator system, and by identifying cost baselines and performance baselines, it helps to find shortcomings in input and output, thus laying the foundation for the optimization of expenditure structure.
For example, in 2024, the Beijing Municipal Finance Bureau reorganized and listed the landscaping expenditure items and expenditure classification system based on fiscal powers and expenditure responsibilities, and mapped the expenditure items to key performance indicators. Through cost-benefit analysis, input and output analysis, the performance baseline of garden funds in each district was found, ensuring that development goals, strategic areas, financial powers, policy tasks, and performance goals are all linked together to achieve the purpose of ensuring key points and optimizing the expenditure structure.
Reporter: Under the requirements of a sound modern budget system, how will future budget performance w88 slot work be carried out?
Li Ming: "Comprehensive planning, standardized and transparent, strong constraints, performance-oriented, and sustainable security" are the basic directions for the construction of our country's modern budget system. In accordance with this requirement, promoting budget performance w88 slot to improve quality and efficiency is an important part of improving the modern budget system. Under the background that the "four beams and eight pillars" of my country's budget performance w88 slot have been basically completed, in the next step, we can consider focusing on deepening and improving it from three aspects:
First, look at all aspects of benchmarking, strengthen policy performance evaluation and government budget performance w88 slot, and solve the problem of mismatch between policy orientation consistency and micro-performance and public macro-perception.
The second is to look at the whole process of benchmarking, strengthen the application of performance evaluation results, take the promotion of zero-based budgeting as an opportunity, clearly use the performance evaluation results as an important basis for determining the direction of budget fund guarantee, strengthen the application of budget performance evaluation results, and promote the improvement of quality and efficiency of budget performance w88 slot.
The third is to look at the full coverage of benchmarking, expand the boundaries of performance w88 slot to adapt to the overall layout of financial resources, and implement penetrating but possibly differentiated budget performance w88 slot for various budget funds. For example, explore revenue budget performance w88 slot to promote the improvement of budget revenue quality and sustainability; explore performance evaluation models for various forms of fiscal expenditures such as government equity investment and subsidies.
Cao Tangzhe: Strengthening budget performance w88 slot is an inherent requirement for improving the modern budget system. Future budget performance w88 slot reform must be compatible with, coordinate with and promote each other with the zero-based budget reform, and should mainly focus on the following six aspects:
First, strengthen the performance planning system and improve the performance budget system. Establish a more systematic performance planning system, and at the same time establish the relationship between "strategic goals-policy tasks-budget projects-operation activities", introduce system analysis and cost-benefit analysis, and optimize resource allocation.
The second is to highlight the individual requirements of budget performance w88 slot and establish “post-templated” budget performance w88 slot. Connect the relationship between budget performance and business assessment, find the driving factors of business performance, use cost as the link, introduce cost-benefit analysis, and achieve industry-financial integration.
The third is to deepen cross-department budget performance w88 slot. On the basis of overall departmental performance target w88 slot, cross-departmental matters and cross-departmental performance targets are set to connect with the government's major strategic deployments and improve the coordinating mechanism of "one field, one special project, and one set of indicators." Performance information should focus on sharing and co-construction.
The fourth is to advocate research-based performance assessment and evaluation. Introduce the concept of evidence-based decision-making and establish a new model of research-based performance evaluation. Improve the dual reporting system of performance evaluation reports and research reports, and integrate the "small cycle" of budget performance w88 slot into the "big cycle" of government governance.
The fifth is to implement cost budget performance w88 slot. Consolidate the foundation of cost accounting, realize the integration of cost accounting, budget w88 slot and other systems, establish a basic cost accounting database and unit cost database, and connect them with performance indicators and standards to lay the foundation for cost performance w88 slot.
The sixth is to implement the budget performance w88 slot standard project. Establish the concept of "big review and big performance", improve the construction of project standard texts, improve the budget performance w88 slot standard system covering public service standards and other standards, promote the integration of budget w88 slot to be more intelligent, strengthen the use of data analysis, improve budget w88 slot efficiency, improve the standard and scientific budget system, and optimize zero-based budget preparation.
Shi Shaobin: In the future, in the budget performance w88 slot work, we must not only improve the performance w88 slot process, improve the performance standard system, harden responsibility constraints, etc., but also accelerate the informatization construction of budget performance w88 slot, break the situation of "information islands" and "data chimneys", and promote the interconnection of business, finance, assets and other information of governments at all levels and departments.
In addition, budget performance w88 slot should strengthen coordination with the supervision of the National People's Congress, audit supervision, and accounting supervision. Through the coordination and cooperation between various departments, a synergy can be formed to jointly promote the in-depth development of budget performance w88 slot and improve the efficiency of the use of fiscal funds and the effect of policy implementation.
Zheng Yong: Finance is the foundation and pillar of national governance. Financial w88 slot is related to the overall situation. It must consider both the present and the long term; it must do its best but also act within its capabilities. Scientific fiscal w88 slot is a long-term systematic project. After years of exploration, the framework of the modern fiscal system has been basically established. However, there is still a big gap between the requirements of the Party Central Committee and the State Council and the expectations of the people. It is still incompatible with new situations and changes at home and abroad. Scientific fiscal w88 slot must keep pace with the times, be upright and innovative. Zero-based budgeting, the establishment of an expenditure standard system, and the assessment of fiscal affordability are all effective measures to comprehensively implement budget performance w88 slot. They are also basic requirements for improving the modern budget system and promoting scientific fiscal w88 slot. In 2025, financial departments and budget units at all levels must concrete various measures for scientific fiscal w88 slot and improve their execution capabilities to provide important support for comprehensively completing the economic and social development goals of the "14th Five-Year Plan".
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