The Study On The Revenue And Expenditure Of County-Level Finance In The New Normal Stage

In the case of China's economy has entered into the new normal stage, the growth of fiscal revenue has slowed significantly. All levels of government are suffering significant financial difficulties, especially the county government. The problem of county finance has seriously affected the social stability.There are many domestic and international researches on the financial problems at the county level, but the research on the financial revenue and expenditure at the new normal stage is rare. Therefore, this dissertation takes the theory of fiscal decentralization and public good as its theoretical base and the Yongcheng city as an example, makes a detailed analysis of revenue and expenditure in county-level cities during the new situation, gives the general idea and methods of solving county financial problems on revenue and expense.This paper consists of five parts.Firstly, the paper introduces the research background, significance of the topic; briefly describes the status of academic research; gives the simple summarization of the fiscal decentralization theory and public goods theory; explains the research methods, the innovations and shortcomings.Secondly, the paper gives the concept and content of the new normal stage; describes its impact on the overall status of national finance; expounds the conditions and characteristics of county financial revenue and expenditure at the new normal stage.Thirdly, through the detailed analysis of fiscal revenue and expenditure in Yongcheng city, this paper point out the problems. From aspects of revenue, tax of resource-based industries decreased significantly, revenue of land transfer reduced significantly; The reform program to replace the business tax with a value-added tax will reduce local revenues. From aspects of expenditure, for rigid growth of local people's livelihood Spending, expenditure continued to grow rapidly; for the big debt of local government, debt repayment will be quite difficult.Fourthly, through the detailed analysis, the paper points out the internal and external cause of the problem. There are four causes:intergovernmental vacancy or offside of business powers, unclear border between government and marketers; intergovernmental inappropriate allocation of fiscal powers; inappropriate structure of taxation system, incapacity of local governments to collect revenue independently; the defect of county financial management and supervision system.In closing, the dissertation put forward general idea and methods to solve the problem of county finance. The first general idea is to clarify the powers of government, to appropriately define the boundaries of government and the market, to build service-oriented government; the second is to further nail down the dividing principle of intergovernmental fiscal powers, to properly allocate fiscal powers and revenues among governments, to ensure that all levels of government have sufficient financial resources to fulfill their functions. The third is to improve the transfer payment system, to make up for the development gap among regions by strengthening the transfer payment; the fourth is to promote the reform of the tax system, improve the local tax system, give the local governments more powers on tax, the fifth is to improve the financial management and supervision system at the county level.