| Take the opportunity of the national government departments reform ,the author intends to discuss something about the questions and countermeasures of treasury business in China. For the purpose of the treasury fund's reflection to the macro-economic and finance activities ,on the basic of the concept of the P.B.C's managing treasury function ,the author analysis the current situation of the treasury business in China . link to the circumstance in China ,it's important to study and develop the treasury business of P.B.C.This paper illustrates the necessity ,urgency and practicality of reforming the treasury business by comparing our experience with that of other's countries'. The author sets out the idea that the best approach to develop the treasury business is to reform the Treasury Single Account System so as to solve the problem of the weakening through reforms in system, mechanism and management. At the same time , the people's bank of china should be entrusted with the authority to make decisions on short-term financing and to implement the financing plans. The advantages for this approach lie in that P.B.C can take advantage of the monetary policy transmission mechanism and the combined effect of the monetary policy and fiscal policy of bill issuance. On one hand, P.B.C can make bill issuing decisions accordance with market conditions and reduce the cost of financing; on the other hand, P.B.C can use treasury bills as the means to solve the imbalance between money demand and supply, improve financial services and promote the sustainable and stable economic development. The support from both the financial and fiscal sectors is indispensable in pushing forward the research and reform in treasury function.The whole paper consists of three parts ,altogether 33,000 words. Charter 1 The reflect gives birth to macro-economic and finance because of the flow of treasury fund.This charter mainly discusses that the income fund and expenditure fund and debt fund flow make the macro-economic and finance have some difference .The flow of treasury fund directly reflects the fiscal policy of the government .It plays an important role on the effective relationship among the key elements of the macro-economic and finance theory system .It affects the total supply and demand , loan policy , money supply and demand and economy development directly and indirectly. Charter 2 The current situation of PBC managing treasury function .Recent years ,the treasury bureau ,as the unit of the People's Bank of China ,has made the great acheivements ,especially in 1998,to ensure the fiscal policy implement ,debts issued by the Ministry of Finance and the treasury bureau of PBC plays an important role .However, in reality ,the function has been seriously weakened due to the governmental self-benift segregation, weak control mechanism ,lack of information network system among Finance ,Tax,Treasury ,Comercial bank departments , ill-defined responsibilities of different departments and deviation in decision-making. The weakening of function is reflected mainly in managing treasury funds and fund-raising activities on behalf of the Ministry of Finance, resulting in less effective functioning as the manager and loss to economic and social development. Charter 3 The countermeasures in improving the treasury business in China. The paper poses four measures on the basis of the experience of foreign country for reference .The first measure is to reinforce the P.B.C's managing treasury function .The aim is to adopt Treasury Single Accountant System and establish scientific treasury fund supervision and analysis system in order to promote the efficiency and benificial result of treasury fund ,give service to draw up and implement effectively the fiscal policy and monetary policy .The second ,carry out the Treasury Single Account Reform .The paper discusses the importance ,the advantages and disadvantages ,countermeasures in detail . It's the stress of the whole paper .The TSA reform is favorable to reali... |
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