Study On The Legal System Of Financial Transfer Payment Under The Financial System Of Province Governing County

Since thirty years of reforming and opening up, due to historical,natural, resources and other reasons, the gap between urban and ruralareas, trade gap, regional disparity are expending. The system of financialtransfer payment is an important part of our country’s tax-sharing systemwhich plays an important role in balancing the financial departments atall levels and promoting the equalization of public services. Moreover, itplays a crucial role in narrowing the gap between regions. However, withChina’s economic and social development, the transfer payment in form,mode, supervision system exposes many imperfect places, which affect toplay an effective role of transfer system. So it needs to improve.In2012, the reform of the financial system of "province governingcounty" is developing in our country. This is another major reform of thefinancial system after the transfer payment system to narrowing the gap.With the reform of the financial system of "province governing county",the transfer payment system which is not perfect originally may producemore problems. Before the "province governing county" fiscal system hasnot yet fully implemented, we must have forethought and makecountermeasures fully. Only in this way, can the two system play a betterdevelopment of narrowing the gap and balancing development of regions,to ensure the sustainable and coordination development of China’seconomic and social. This paper starts from the introduction of transfer payment and"province governing county" fiscal system, mainly analyzes manyproblems of the system of financial transfer payment under “the financialsystem of Province Governing County”, including the non-perfect legalsystem, the irrational pay structure, non-standard use of funds and thenon-perfect supervision mechanism. Then discusses the necessity andfeasibility of improvement in the system of financial transfer paymentunder “the financial system of Province Governing County”. Finally putsforward some countermeasures to improve the legal system of financialtransfer payment under the financial system of “Province GoverningCounty”.