The Discuss On Our Country Centralized Treasury Payment System

The treasury management system is an integral part of the financial administration, which has a direct impact on the financial and monetary policy of a country. The traditional way of the treasury payment system implementation in our country is based on the planned economy. Its essential feature is that the allocation of funds is realized through finance department and budget units by setting up multiple bank accounts and managed separately. This causes the precipitation, decentralization and low efficiency of the financial funds, slow feedback and no transparency of the fiscal information, and difficulties in the budget establishment, which can not provide necessary assurances in the execution and regulation of the macroscopic economics.Learning from the advanced treasury management experience of both developed and developing countries, we attempt a preliminary accounting system to overcome the weakness of our traditional treasury payment system in certain areas. Although this accounting system does not change the traditional system essentially, it has laid a solid foundation for the centralized treasury payment system in the future. After that, we will gradually implement the centralized treasury payment system over the country and hence realize the comprehensive reform.The centralized treasury payment system is a treasury management system based on treasury single account system, allocating funds mainly from the centralized financial payment. It is important for the public expenditure system. After a few years of reform, we have already achieved a certain degree of success, but still have many problems urgent to be solved. Therefore, in this paper, we compared and analyzed the traditional treasury payment system and studied the problems thoroughly to find ways to realize and improve the centralized treasury payment system in our country.The dissertation was divided into six parts.The first part pointed out the importance of the treasury management system reform for macroscopic economy regulation in our country, summarized the domestic and foreign research situation, and then proposed our research ideas. The second part analyzed the traditional treasury payment system of our country, pointed out that the lack of supervision and difficulties in the traditional system was caused by the low efficiency in the finance department, the agent banks and the budget department. The third part introduced the reform exploration process in our country, explained the possible role of the centralized accounting system in the reform process, and discussed the feasibility of the transformation from the centralized accounting system to the centralized treasury payment system. The fourth part, through the analysis of reform cases, pointed out the limitations of the current centralized treasury payment system in our country. Based on the reform issues mentioned in part four, the fifth part proposed the idea and direction for the centralized treasury payment system in the future.