Study On Budgetary Budget Supervision Of Major Project Of Hong Kong Legislative Council

The budget supervision is one of the important ways for legislative body to supervise on the public power. The core of the budget supervision includes popular sovereignty, separation of the three powers with mutual balance and agency by agreement. The main exercise manners of the supervision consists of considering and approving the government financial budget and the supervision and approval on the appropriations bills for the public finance budget and expenditure through the parliament.The Legislative Council of the HKSAR and its predecessor, as the legislative body in Hong Kong, exercise the supervision and approval on Hong Kong’s financial budget legally, which is based on the authorization of laws and regulations. In the mature operation for a long time, a good operation mechanism has already been formed. Especially in the budgets of the major projects, the supervision has accumulated a large amount of experience. The government department and legislative branches which are related to the budget bill involve the financial secretary, all the members of the legislative council, the finance committee of The Legislative Council of the HKSAR. According to the legal procedures and "Rules of the Legislative Council of the HKSAR", they consider and approval the financial budget bill and its amendment and other effective rules to supervise on misuse of funds and corruption. In addition, they audit the usage of special funds with a report in accordance with the rules. The first step in the review program of the budget is reading the budget twice. Then the financial committee considers the budget. After the third reading of the budget, the vote would be conducted. Furthermore, the budget would be fully discussed by the legislative council. The council will exercise their rights of debate and questioning and consider the draft of the financial budget and its amendment completely. Compared with the budget review system of the government parliaments which implement common laws, the differences and similarity among the budgets of The Legislative Council of the HKSAR and the legislative body in the common law countries will be analyzed and summarized. This research will focus on the major projects of The Legislative Council of the HKSAR in order to find the characters and difficulties of its budget supervision. It is also necessary to be analyzed the impact of administration system and party politics on the budget supervision.The Legislative Council of the HKSAR has gathered the practical experience in the financial budget supervision. However, there are some bottleneck problems in China’s NPC budget supervision at present. They are including the NPC discussion period is too tight, the "fake" budget review, and exercising the veto of the National People’s Congress. Those problems are essential to be seriously analyzed. Compared with the operation mechanism and performance in the Legislative Council of the HKSAR, it might be beneficial to inspire the mainland people’s congresses at various levels how to exercise the budget supervision efficiently.