The Empirical Study On Financial Management Of Public Resources In China

Theoretically speaking, among a specifi group(large as a country or small as a college), public resoruces, which has got the characteristic of nonexclusive as public goods and competitive feature like private goods, should be publicly owned and used. The nonexclusive feature of public resources will casuse people making rational options based on the private interest maxmization, which finally produced irrational options, just as the overuse of public resources, the deterioration of public resources system, the unsustainable and exhausted problem of public resources, the efficiency losses in the process of allocating public resources and the unfair distribution of public resources gains, as well as many other "prisoners’ dilemma" problems. All of these should be redressed and adjusted by government. But the competitive feature makes another possibility, that is market mechanism would also play a role when solving the allocation and operation problems of public resources.Pratically, the institutional design and management of public resources should be set up on distinguishing different types of public resources, and then dividing the boundary, method and effects of government adjusting and market adjusting. We should design an effective mixed adjusting mechanism, as well as incentive compatibility and regulatory mechanism, to properly deal with the powers and responsibilities relations among public resources’ owners operators and users. All of these are to make sure that the rights of public resources such as ownership, operating and revenue sharing to be legitimately exercised, and prevent the interest loss in the process of renting, tendering and managing public resources, which could assure the gainings from public resources be handled and included in public budget and finally applied in providing public services and improving social welfare. It really matters when the government want to improve governance, institution building, and solve the unfairness and the corruption caused by imbalance of gainnings attribution.As public ownership is dominated in China, public resources is large in scale, complicated in structure, widely distributed and concerned a lot in management. From a broad viewpoint, public resources should contain natural public resources, public facility resources, state-owned assets and intangible assets like name, image and visibility affiliated with the tangible assets. It also contains the administrative, information and spacial public resources. From the actual fact, in the gradual process of market-oriented reforms, accordance with the idea of "more market regulation and less government regulation" and "large market and small government", China is gradually open to private sector and foreign capital. This reform has been extended so far, and have made remarkable achievements in theoretical research and system innovation. It also greatly emancipated productivity and improve the efficiency of resource allocation. By comparison, the theoretical study of public resources in the field of management innovation and institutional mechanisms conversion is relatively weak and lagged behind. Many theoretical issues, such as the connotation and extension of public resources, functions, size, structure, operation and management mode, management system, financing and its operation mechanism, as well as the government and the market position in the allocation of public resources needs further research. In the practice of public resource management by far, the trading center of the local government about public resources are still coming to establish, the public resources trading center related with government departments (the center of government procurement, property rights trading center, land real estate trading center, construction engineering trade center, human resources development and management service center, etc.) as well as the standardized management system among the public resources, users and operators has not yet been established.Concerned about the reality of public resources management in China and on the basis of relative theory on public resources, with the goal to rationalize the relationship between owners, managers and users of public resources, as well as properly deal with the relations between the government and market mechanisms in the process of public resource allocation and use, this paper selected the representative of public resources, determined the research content, and built analysis framework, integrated the theory of public sector economics and related economic theories, and finally used empirical analysis to study three types of public resources management:The first is public natural resources which usually presented as land. The study reveals the formation mechanism and the conduction mechanism of land in recent years, and gave an answer to the over-reliance problem of local governments from institutional and finance points, it also explored the path to solve the financial problems of land. Second, it choosed the administrative permissions, government procurement and public space resources as the study case, discusssed about the development, utilization, management, vesting, and supervision of public administration resources, we also talked the internal operating mechanism, empirically checked the performance of resource allocation in public administration, and designed the technology path to improve public administration’s performance. Third is to select the public transportation resources in Haikou city as an empirical sample, studied the rational allocation, effective development and utilization of state-owned assets by micro-survey data, public facilities and other public resources. Theoretical and empirical analysis. In a word, we want to achieve an new idea in the innovation of financial management system reform with the goal of "efficient, equitable, sustainable development and utilization of public resources" function.