Comparative Analysis Of Concentrated Treasury Capital Collection And Allocation System Of The Baoshan District Of Shanghai

Starting from mid 90s of 20 century, the China's fiscal reform has gone into the second stage with a core task of building up a public fiscal management framework in accordance with the market economy. The aim of the treasury management system reform was to establish, on the basis of single treasury account, a modern treasury management mechanism featured with concentrated capital collection and allocation. The implementation of the reform will reinforce the transparency of the budget revenues and expenses and enhance the capital application efficiency. It would prevent the corruption at the origin and has profound effect on the draft, execution and surveillance of the budget. So far, the treasury management system reform is in the period of nation-widing and spreading. As a institutional innovation in the fiscal budget implementation mechanism, the promotion of the treasury management system reform is extremely difficult by the policy and institutional constraints. Some noteworthy problems surfaced in the trial period.Taking an angle of reform of concentrated capital collection and allocation, this article addresses the related theories on public choice and institutional innovations; it also compares the international experience and based on the Baoshan District in Shanghai, the article examines the management status prior to and after the execution of concentrated capital collection and allocation system. Combined with the study on theories of public economics, public management and institutional economics, the paper confirms the feasibility of introduction of concentrated capital collection and allocation system, but it pointes out some existing problems; as for the technical problems: the comprehensive budget and capital allocation and planning is not well managed and etc.As for the problems on the institutional level such as the reforms on governmental budget management and budget accounting system do not take place simultaneously; legal system needs further improvement, the paper presents the solutions and suggestions: better carry out the comprehensive budgeting efforts and improve the rigorousness of the execution and etc.fortify the budget system reform and legal constructions in the institutional perspective; make the amendments of relevant law, regulations and institutions and etc.On the basis of the experience gained in the western developed countries, this article aims at comparing the problems prior to and after the execution of concentrated capital collection and allocation...