The Modern Treasury Functions And Management Studies

The treasury offers the material guarantee for the normal functioningof the country. Especially since the new China was established, ourcountry's treasury has made remarkable contributions to strengthening thepeople's democratic dictatorship and the socialist constructiveundertakings. With the gradual development of the socialist marketeconomy with Chinese characteristics, fundamental changes have takenplace in fiscal, financial and macroscopic regulatory theories andmanagement. However, the theoretical research and the managementreform have lagged behind the above developments on our country'streasury. Especially, compared with the gradual establishment of theframework of public finance and the reform of the central bank'smonetary management, the treasury theory and management have becomemore and more inharmonious with the social market economy. So, it isnecessary to make deep research on the treasury theory and thus to guidethe treasury management reform, which reflects both the self-need of thetreasury development and the external changes. For the time being, the available literatures are scarce concerning thetreasury, i.e., the treasury is simply taken as the cashier of the budgetarymanagement. Besides, long under the shadow of the view that thepeople's bank manages the treasury, the present research on the treasuryhas traditionally been focused on the side of the central bank, absent inthe concepts, functions, powers, contents, system and so on of the moderntreasury. With the construction of the framework of the public finance and theimplementation of the single treasury account system, the fiscalauthorities have strengthened the management of treasury funds. At thesame time, with the transformation of the monetary management, thecentral bank has realized the impacts of the treasury funds circulation onthe monetary management. Thus, on one hand, the changes of fiscal andmonetary managements enlarge the contents and powers of treasurymanagement, on the other hand they evoke the dispute whether thetreasury should be managed by the fiscal authorities, by the central bank,or even by itself. Based on the new challenges and disputes mentioned above, thedissertation is divided into the introduction and seven chapters. The introduction part depicts the purpose and meaning of thedissertation, summarizes the domestic and abroad literatures relevant tothe treasury, standardizes some concepts, lists the research tools andmethods, and explains the logic structure of the dissertation. As the basis for the theoretical research of the treasury, Chapter 1introduces the historical development of the treasury, the treasurymanagement in western countries, and the low efficiency of our currenttreasury; thus puts forward the necessity and importance for the all-roundtheoretical research and management reform of our country's treasury. Next, Chapter 2 analyses the development of modern treasurytheories on the background of market economy. Four perspectives areused for the analysis: the market economy system, the construction of theframework of public finance, the transformation of the central bank'smonetary management, and the implementation of the single treasuryaccount system. Chapter 3 is devoted to the concept and functions of the moderntreasury. Through the historical track of the treasury concept, it isrevealed that in the initial period the treasury was deviated from the fiscalmanagement and into monetary management, and then under modernmarket economy it has begun to mix with the fiscal management. Further,it is argued that the modern treasury system contains both the fiscal andthe central bank's treasuries, between which the former focuses on thefiscal management while the latter covers both the monetary managementand the connection between fiscal and monetary management. Especially,the concept of modern treasury is put forward, which refers to a series ofeconomic activities the government takes in order to manage the fiscalfunds and related government financial behaviors during the budgetcompilation...