Study On Financial Information Disclosure Of Guangzhou

As an important part of publicizing government information,financial information disclosure has been not only a hot topic receiving tons of interests,but also a symbol of promoting government publicity,furthermore,expanding democracy.With the gradual improvement of the people's sense of ownership,the desire to improve financial transparency and exercise the right of supervision has become more and more intense.How to further improve the transparency of financial information has become a problem and difficulty faced by people's governments at all levels.The Regulations of the People's Republic of China on the Opening of Government Information(hereinafter referred to as the Regulations on the Opening of Government Information)implemented in 2008 clearly stipulated that people's governments at all levels should carry out the work of publicizing information including financial information.For the first time,China adopted legislation for governments at all levels to carry out information disclosure and effectively standardized information disclosure,so everyone has a legal right to know.In the Eighteenth National Congress of the CPC and its Third Plenary Session,in terms of deepening reform,financial issues have been positioned as the foundations and pillars for governing the country;the Nineteenth National Congress and the Third Plenary Session of the Nineteenth Central Committee of the CPC have clearly demanded that governments at all levels should reform their financial policies,establish transparent financial systems and accept the masses' supervision,which requires governments at all levels to do a good job in publicizing financial information,so that people can see the usage of government funds at anytime and anywhere and understand government's intentions as well.Therefore,confidence in government will be enhanced,so as to build a service-oriented government that people are satisfied with.Democracy is an eternal theme of all time and a cornerstone of government operation.Democracy is also an important basis for financial disclosure.Only by grasping the principle of democracy and giving full play to the theory of people's sovereignty and the corresponding principal-agent theory can democracy be realized to a greater extent.Government's power comes from people,and government is an institution entrusted by people to carry out the corresponding management,showing a corresponding principal-agent relationship.In this case,people's right to know financial information becomes meaningful.Financial information disclosure can allow people notonly to learn about government departments' operations,but also their actions in the field of people's living status,so that people's enthusiasm for participating in political issues and political sensitivity will be enhanced,which enables the public to effectively understand the basic situation of the government's operation.This will help the society to have a more comprehensive development on the dual path of developing and stabilizing,which ultimately promotes it to enter the path of harmonious and rapid developing,so as to create a good external environment for further deepening the overall reform.This paper makes a thorough study on financial information disclosure of Guangzhou.Firstly,it starts from the background,expounding the necessity and significance of studying financial information disclosure of Guangzhou.Secondly,it combs and reviews relevant theoretical research on financial transparency of domestic and overseas in detail.Based on the existing study,it analyzes and demonstrates the purpose and intention of improving financial transparency.Then it introduces relevant concepts of financial information disclosure as well as the content and features of financial information disclosure of Guangzhou.It discusses the current situation,achievements,and problems of financial information disclosure in Guangzhou.At the same time,it analyzes international successful experience of financial information disclosure which proves that it can play an active role in financial supervision and government performance assessment.This paper points out that although Guangzhou is speeding up the pace of improving financial transparency,comparing to mature market-oriented countries,Guangzhou's public work is still at an early stage.There are still some gaps between Guangzhou and developed cities,which needs to be gradually narrowed in the future practice and exploration.Finally,according to the actual situation of Guangzhou municipal government information disclosure,the principles,ideas and countermeasures of improving the financial information disclosure of Guangzhou are given in this paper.The article holds that,after long-term efforts,Guangzhou has made a remarkable achievement in financial disclosure.However,with the deepening of reform and opening up,Guangzhou's comprehensive strength and awareness of public participation continue to increase,and there are still some gaps in the related work of financial disclosure.Facing the current disparities,the government should start from all aspects,strengthening the system construction of Guangzhou's financial disclosure;actively and steadily promoting the publicity work,to ensure citizens' right to know and to bringpublic participation and supervision of the government into play;improving the credibility of financial institutions,and increasing the public's trust in government financial institutions.