On Distribution Of Financial Power

Financial power is the basic concept and its distribution is the key issue of financial law. The distribution of financial power contains two aspects: inter-governmental decentralization and intra-governmental separation. Determined by the essence of our country and the characteristic of public finance, democracy and statutorism are the fundamental principles of financial power distribution. According to these principles, we should construct a constitutional decentralization system which can be called fiscal federalism, and establish a modern budget system, improve and realize the supervision over government budget of the people's congresses of various levels, and promote the openness of the government budget to the public. Because public finance plays a vital role in the country and the society, its democratization and ruling of law becomes a sound approach to expanding citizens' participation in political affairs and constructing the socialist political civilization.