Research On Design Of The Medium-term Rolling Budget System

Public finance is the foundation and pillar of the national governance, and the reform of budget management system is an important part of China’s fiscal reform. Traditional annual budgeting has inherent flaws and shortcomings in maintaining fiscal discipl ine, optimizing the al location of financial resources and improving operational performance. The implementation of interim rolling budget management, and the reform in institutions and techniques are not only of great significance in regulating the budget system, strengthening the subject responsibility and achieving a balanced budget beyond a year, but also an important measure to deepen the reform of budget management, optimizing budgetary allocation of resources, and improving the performance of budget constraints. Based on the comparative analysis of the interim rolling budget management experience in advanced countries, and combined with our country’s provincial pi lot of interim rolling budget management system reform, this paper provides some experience and lessons that we may learn from.This paper is divided into six parts. The first part introduces the research background, methods and significance of the paper, and summarizes the domestic and foreign conclusions and results of studies on the interim rolling budget management. The second part is a theoretical analysis, explaining the meaning of the basic theory and theoretical characteristics of the interim rolling budget, analyzing the status quo of budget management system at this stage, and introducing the advantages of the interim rolling budget management compared to annual budgeting. The third part introduces the practical significance of the implementation of interim rolling budget management, that it can improve not only budget management techniques, but also the budget management system. The fourth part is the analysis of domestic and international experience. First, summarizes the practice in foreign countries that have effectively implemented interim rolling budget management, such as United States, Britain, Germany, Russia, present ing the experience for our reference; Second, summarizes the our experience and lessons learned in the pilot in Hebei Province. The fifth part of the institutional design of inter im rolling budget management, involving the determination of budget cycle, the structural framework of budget, and the specific route selection of budget reform, introducing the major changes in the implementation of the interim rolling budget management system. The sixth part analyze the difficulties and challenges in the implementation of the interim rolling budget management, and proposes corresponding policy recommendations.Half of the people who have embarked on a one hundred mile journey may fall by the wayside. The budgetary management system reform in China, especially the reform of the fiscal management system, i s stillalong way to go,and the real test has just arrived...