The main content of the revision of the New Budget Law: The new budget law clearly stipulates the debt management of local governments. When local governments issue bonds, the scale of borrowing must be reported by the State Council to the National People's Congress or the National People's Congress Standing Committee (NPCSC) for approval. According to the new budget law, part of the necessary funds for construction investment in the budgets of provinces, autonomous regions and municipalities directly under the Central Government approved by the State Council can be raised by issuing local government bonds and borrowing debts within the limits set by the State Council.

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conscientiously implement the new budget law

the life of the law lies in implementation, and the authority of the law also lies in implementation. "It is not difficult to legislate, but it is difficult to enforce the law." If the new budget law is not implemented effectively, then the law will be compromised no matter how good it is, and administration and financial management according to law will become empty talk. Conscientiously implementing the new budget law is an important task in China's financial and economic work. At present, we should focus on the following tasks:

1. Do a good job in the study and publicity of the new budget law.

We should seriously study and fully understand the new budget law, accurately grasp its spirit, principles and specific provisions, enhance the awareness of budget rule by law, consciously take its provisions as the code of conduct in budget management activities, act in strict accordance with the law, and be strict in financial and economic discipline, and earnestly abide by the law.

while learning and using the new budget law well, financial departments at all levels should also do a good job in the publicity and popularization of the new budget law, and regard this law as an important part of the popularization of the law during the Sixth Five-Year Plan. In addition to organizing special training on the new budget law, other business trainings should also arrange this content. The Ministry of Finance should take the implementation of the new budget law in various places as an important assessment content in the acceptance of the "Sixth Five-Year Plan".

at the same time, all localities should widely publicize the new budget law in various ways, so as to let the public know and master the knowledge of budget law, and promote the whole society to form a good legal environment for handling affairs according to law, finding ways to solve problems, and resolving contradictions by relying on the law.

2. Do a good job in the legislative support for the implementation of the new budget law

The formulation and implementation of the new budget law is in the period of comprehensive deepening reform in China, and only some principled provisions have been made on some issues that are in line with the direction of reform and development but are difficult to specify at the moment. China is a big country, and the environment and conditions faced by budget management in different places are different, and the level of budget management is also quite different.

therefore, in line with the principle of proceeding from reality, combining unity with flexibility, the central level also needs to revise the implementation regulations of the budget law in accordance with the principles and authorization determined by the new budget law, and study and formulate rules and regulations on fiscal transfer payment, fiscal fund payment, government debt management, and government comprehensive financial report. At the local level, decisions on budget review and supervision or local regulations can also be formulated.

In short, we should speed up the formation of a relatively perfect modern budget system, enhance the operability and enforceability of the new budget law, and lay a solid institutional foundation for managing finances according to law.

3. Do a good job in coordinating the implementation of the new budget law and deepening the fiscal and taxation reform

The formulation and implementation of this new budget law plays an important role in connecting the past with the future. It has carefully summarized and inherited the experience of China's budget management practice since the reform and opening up, especially since the reform of the tax-sharing financial system in 1994, and also clarified the direction of budget management activities in the future, leaving room for deepening the reform of the budget system.

while carrying out the new budget law, we should do a good job in linking the specific plans of fiscal and tax reform with the new budget law, do a good job in linking the supporting system construction of the new budget law with the specific plans of fiscal and tax reform, coordinate with each other and advance simultaneously, persist in guiding and promoting the reform with the system, and constantly improve the system during the reform.

Baidu Encyclopedia-New Budget Law