Fri, March 20, 2009
Business > Economy

China posts annual government budget online for first time

2009-03-20 09:19:27 GMT2009-03-20 17:19:27 (Beijing Time)  Xinhua English

BEIJING, March 20 (Xinhua) -- China's Ministry of Finance (MOF) posted the central fiscal budget for 2009 on its website Friday, a week after it was approved by the Second Session of the 11th National People's Congress.

It is the first time accounts revealing details of annual central fiscal budget have been published, including central fiscal income and spending, tax revenues and government transfer payment.

The accounts show sources and allocations of income and expenditure, with spending details of projects to improve living standards, such as old-age pensions and employment subsidies, MOF spokesman Hu Jinglin said.

"The release of the fiscal data online will help strengthen public supervision of government work and prevent corruption," Hu said.

At present, monthly data of governmental income and expenditure is available on the ministry's website. The MOF has been updating the information every month since the second half 2008.

The MOF has stepped up efforts to publish more timely and clearer financial information via the Internet since a regulation encouraging open government was issued by the State Council, the Cabinet, in May last year.

In 2008, the MOF released fiscal accounts of central income and expenditure from 2003 to 2007 online. They came out at least one year after the documents were approved by the National People's Congress, the national legislature.

Previously, official data of central income and spending from 2000 to 2007 were available in the annual "Finance Year Book of China" authorized by the ministry, tracing information of the national finances the previous year. They were seldom available on the Internet.

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