Study On Supervision Over Research Budget And Final Account Of The Local People’s Congresses

Development Zones which are the product of Chinese reform and openness are established to attract foreign capital more easily and focus on economic development. They are also the local developing engines for their fastest growing economy as well as the largest industry of China in recent years. The most typical Development Zones are the National Economic and Technological Development Zone all over China. Fifteen Economic and Technological Development Zones including Dalian, Qinhuangdao, Ningbo, etc. were firstly set up on 1984. Their current volumes are very large, basic annual output value is up to ten billions and annual revenue is over two billion so far, which contributes a lot to both local and national finances. However, there are still many problems and risks on fund use in Development Zones due to the lack of effective supervision. The supervision over the Development Zones is classified as internal self-monitoring, supervision by local Bureau of Finance and Local People’s Congresses. Supervision by Local People’s Congress is the best choice no matter in terms of supervision effect or legal support for supervision.Firstly, this thesis investigated the current fund size as well as its usage situation of the Development Zone, studied the financial management situation of the Development Zone, examined the supervision and management of the development zone by the local People’s Congress through analyzing the supervision of budget and final account over the Ningbo Economic and Technological Development Zone.Secondly, there are several problems in immaturity laws and regulations, inadequate institutional mechanisms, internally and externally nontransparent fund use, asymmetry on the major decision-making information and so on after analyzing the supervision of budget and final account over Ningbo Economic and Technological Development Zone,Finally, several suggestions were made on the supervision of budget and final account over Development Zone in this thesis. First, we should improve laws and regulations in order to strengthen supervision by the People’s Congresses; second, we should optimize the System and mechanism constantly in order to strengthen external oversight and increase the transparency of fund use; third, we should follow the Supervision and examination system lead by the fund performance continuously in the legal framework.