A Study On Treasury Centralized Payment Reform In Xiangsihu New District Of Nanning City

China launched the reform on public expenditure that was based on the public finance from the end of last century. The major contents of such reform include three parts respectively of treasury centralized payment reform (TCP reform), departmental budget reform and government reform that have constituted the basic framework of reform of public expenditures. As the most important part in the reform of public expenditures, the TCP reform would be of great significance. The departmental budget reform and government procurement reform have greatly enhanced the implementation and laid solid foundation for the TCP reform. The objective of TCP reform is to construct a unitary treasury accounting system that can provide centralized management of the financial revenues and expenditures to give a full play of the financial resources.This paper focuses mainly on the study of the TCP system and the principal-agent theory for the public finance, and figures out the existing problems in the concrete practice of TCP reform. The academic research on TCP system and TCP reform has become a natural requirement of the socio-economic development and an inevitable outcome of financial reform. Based on the related theoretical researches on TCP of the public finance, this paper further elaborates the importance of TCP reform for the promotion of finance management. On this basis, this paper analyzes experiences and existing problems arising from the TCP reform conducted in Xiangsihu New District of Nanning City, and thus further probes into the development strategy for TCP reform in this area. Under the circumstances of financial reform, TCP reform may bring about impacts on three aspects:improvement of allocation of financial funds, enhancement of the responsibility of financial supervision, deepening the reform on departmental budget preparation. Of course, TCP reform also encounters a series of problems that are mainly reflected by:inconsistent ideology for public finance, insufficient financial resources, improper linkage between public budgetary system and TCP requirements. This paper probes into the immediate problems emerged during the existing TCP reform, and makes deep analysis of the reasons thereof, aiming to give a reference to the TCP reform. In addition, this paper illustrates how to improve the financial capacity and the supporting systems, so to folly exert other functions, values and significances of TCP reform, find out suitable solutions to the existing problems as well as to further deepen the TCP reform.This paper has its distinctive innovative points. Firstly, this paper selects a county-level TCP reform, which is rare amongst the similar TCP reform studies. The reform launched by Ministry of Finance would focus on the macro-level study of the most fundamental national policies implemented by county-level finance. Starting from the TCP reform and current status in low-level structure, this paper elaborates the pressures of local financial reform, and analyzes the serious circumstances of unceasingly increase of financial expenditures. On this basis, this paper probes into the problems and reasons thereof and learns from the achievements of key reforms. Secondly, in an easy way, this paper expounds its studies on the TCP reform in Xiangsihu New District at the angle of a basal-level participant of TCP reform, thus finds out something valuable for the financial TCP reform in China.