Regulatory Mechanism In The Government Procurement In The Study

Government procurement is an important link for establishing a socialist public finance system. It holds great significance in promoting the development of government procurement. Currently China's supervision system on government procurement is not perfect and related theory still lags behind, which cannot meet the demand of its further development. This article puts forward proposals on how to improve the regulation based on existing problems and analysis of domestic practice with distinct Chinese characteristics, aiming to make innovation in both practice and theory.It first takes an overview of the supervision of government procurement in China and compares it with the practice of other countries. The article explores the financial means employed by Chaoyang District to enhance supervision, remove the centralized procurement center, split up regulation and procurement as well as the effort to build a transparent system of government procurement. It also studies the major issues of the supervision system, including its basis, enforcing authority, scope of supervision and regulatory tools. Combining successful cases of supervision reform in China and advanced experience and concepts of other countries, it brings forth policy recommendations on how to improve the supervision system of government procurement.It concludes that a broader scope of supervision, diversified management tools and agency service for government procurement are of utmost importance for stepping up supervision, promoting the development of government procurement and giving full play to the role of government procurement.