Research On The Supervision And Financial Support Of Non-renewable Resources In China

During the preliminary stage of the economic development of a country, economic growth can be promoted vigorously by the effective utilization of natural resources and this stage during which the fast economic growth depends on resource consumption is called the stage of resource economics by the academia. Natural resources can be divided into non-renewable resources and renewable resources, among which non-renewable resources are exhaustible and with the exploration and utilization by the society, their reserves will continue to decrease until the depletion without regeneration for a long time. Non- renewable resources are mainly petroleum, coal, natural gas and rare earth resources etc. which are contributive to the development of the society. From the current situation of the reserves of non-renewable resources in China, though the reserves are large, per capita is low. From the point of development and utilization, their technology is in a low level with low availability of the resources, high ecological cost, and serious erosion problems. Non-renewable resources industry in China has features of low per capita, low utilization rate, serious destruction of ecological environment and increasing demand, therefore resources have become increasingly scarce and our country is faced with the consumption of non-renewable resources faster than economic growth. How to improve the supervision level and efficiency of the utilization of non-renewable resources and how to choose the appropriate fiscal policy to assist regulatory system to optimize economic distribution and ecological protection are of great importance for realizing the economic sustainable development, economic security and the protection of ecology theoretically and practically.This article reviews the evolution of the Chinese non-renewable resources supervision system from the founding to the reform and opening-up policy and gives a detailed analysis of the current situation of the Chinese non-renewable resources supervision system. In this paper, based on the perspective of theory of finance, by studying the current situation of the Chinese non-renewable resources supervision system in detail, we discover that there are problems in some links of the current non-renewable resources supervision system that the supervision system is not perfect for the development and utilization of resources, and that the supervision system for the value system of resources is relatively lacking, and that a systematic information disclosure system is not established, and that the problems of integration of government administration with enterprise and owner’s absence exist in the supervision system obviously.The article adopts the method of theory combined with empirical research to mine and analyze the reason for the problems of China’s current supervision system from the aspect of fiscal policy, the local government and enterprise development, legal system and nation’s strategy for development. From the aspect of fiscal policy, the value system of non-renewable resources has not been formed due to the lack of appropriate financial compensation mechanism in China, which disable the supervision mechanism to a certain extent. From the aspect of the local government and enterprise development, companies tend to exploit resources randomly and excessively for the sake of their own development and regulatory effectiveness decline with the power of local governments greater than the responsibility because of unclear property rights of non-renewable resources. From the aspect of legal system, legislation in the field of non-renewable resources has not formed into a perfect system with many laws failing to keep pace with the times. From the aspect of nation’s strategy for development, our country has not paid enough attention to the establishment of access mechanism for non-renewable resources industry and we lack incentive policies for technological innovation of developing and utilizing non-renewable resources. From the root of problems of Chinese non-renewable resources supervision system,the article makes suggestions on supervision system and fiscal support policies from five angles.It is a severe challenge for China how to utilize non-renewable resources efficiently and maintain a good ecological environment, especially when we are in the process of resources economy that is highly dependent on non-renewable resources. China is now in urgent need of a sound supervision system of non-renewable resources and appropriate fiscal policies together to optimize problems of non-renewable resources industry. Correlational studies on Chinese non-renewable resources industry in the future will focus on the fields of not only technological innovation of development and utilization of non-renewable resources but also construction and valuation of supervision system by the means of complex adaptive system.