Research On Management Of Budget Stabilization Fund In China

Our country is in a stage of rapid economic development, the special period can bring revenue surge in both opportunities and will also be increased in different degree, the government’s fiscal risk level. Budget stabilization fund scientific management can promote the smooth running of the finance, effectively response to the economic cyclical fluctuation, and reduce the economic risk of the government finance facing. Ministry of Finance of the People’s Republic of China in 2007 has issued "The notice about should be hair not hair of national debt and Budget Stabilization Fund accounting ”, decided to set up a Budget Stabilization Fund. So far,China’s 32 provinces, municipalities directly under the central government and autonomous regions have set up a local stabilization fund budget at the corresponding level. Through the institutionalization, standardization and rationalization of the balance of annual budget can affect social total supply and total demand, thus making Budget Stabilization Fund become an important tool to ease the government budget fluctuations and stable the economic operation, which will play a major role in budget management practice in our country.In this paper,we study on the Budget Stabilization Fund management in our country as the research object, by Public Finance Theory, Principal-agent Theory and Bureaucratic Budget Maximization Theory as the support, in combination with statistical data and literature, on the basis of literature analysis and empirical analysis,combining qualitative analysis with quantitative analysis, the method of combining the budget stability situation of our country since 1994, with the help of model analyzes the economic factors affecting our budget stabilization, and making use of the existing data analysis the development of China’s central and local Budget Stabilization Fund.At present, the process of Budget Stabilization Fund management in our country still have many problems, such as lack of legal binding, sources of funds being not stable, rules of using the capital being not clear, counter-cyclical regulation function having not been fully brought to play and supporting measures being not perfect. On the basis of actively learning foreign experience, the article put forward some suggestions speeding up the construction of rules and regulations in the management process, standardizing the existing income approach, perfecting capital extraction procedures, strengthening the audit supervision and so on. And it puts forward some targeted suggestions broadening the sources of funds according to local conditions, defining the function of regional distribution in view of strengthening the management of the budget stabilization fund in our country.