Research On China's Financial Transfer Payment Legislation

Financial transfer payment is an important component of the modern financial management system. It is an important macro-control economic means to promote coordinated social and economic development, to ensure that residents of different regions have access to roughly equal public services, and to achieve social and political stability.The financial transfer payment law is a general term for the laws and regulation about social relations taking place when government at a higher level transfers part of its financial resources to a lower-level government to be distributed and used, in order to balance financial strength, coordinate economic development of different regions, and conduct macro control. Being an important part of the financial law, financial transfer payment law plays significant role to achieve guarantee of social equity, coordinate the relations of interests between the central and local governments, the current and long-term, partial and the overall situation, and promote balanced development of regional economy. In China, no special legislation has been made on financial transfer payment yet, only some relatively legal regulations scattered in various relevant laws and rules. The lack of financial transfer payment legislation in China has seriously affected the function of financial transfer payment and the realization of its goal.The purpose of studying financial transfer payment legislation is to improve, standardize and institutionalize financial transfer payment in China through legislation, to better solve the problems occurred in the application of financial transfer payment system during regional economy development in China, so as to narrow inter-regional gap and achieve balanced development of regional economy by letting financial transfer payment act as a macro-control means. Therefore, improving financial transfer payment legislation in China surely has realistic meaning.The author makes a comprehensive analysis of the basic content of the financial transfer payment and focuses on the goal and function of financial transfer payment. Secondly, analyzes the problems of the current financial transfer payment system that exist in its actual operation and the condition of lacking relative legislation. Then, based on the previous content, the author points out that financial transfer payment legislation in China is an inevitable trend by analyzing the necessity and feasibility of financial transfer payment legislation in China. Finally, by borrowing successful experience from abroad, the author has brought up a idea of establishing the financial transfer payment legislation from several aspects– setting up a legal system of financial transfer payment, clarifying the purpose of the legislation, and improving the physical and procedural laws regarding financial transfer payment.