Research On Legal Issues Of Financial Information Disclosure In China

With transformation of government function and increasing consciousness of civil right,government information publicity has gradually attracted people’s attention. During which theopen degree and the content is directly related to the implementation of government goodgovernance and the security that citizens have right to know governmental information. Sohow to fully use current systems and relevant provisions and further strengthen and perfectthe government financial information publicly is worthy of deep consideration and discussion,In this paper under the framework of Chinese current effective laws. On the basis of existingresearch literature and materials, This paper untangle briefly the government financialinformation disclosure systems and expound the main body, content and ways in public offinancial information disclosure respectively.This paper is divided into four parts, The first part focuses on the theoretical basis of thefinancial information disclosure, and briefly discusses in respect of the rule of law andcitizens’ right to information and administrative powers of control, public finance theories andthe theoretical significance of financial information disclosure; The second part conciselycombines our existing financial information disclosure system, followed by the main body ofthe financial information disclosure and open sub-section, reproduces our current financialinformation disclosure system and practices; The third part of this paper summarize thepresent situation and existing problems of fiscal information publicity，by examining thelegislation and practice of the finance information disclosure in China, which mainly includesidea behind, legal construction lag, lack of supervision mechanism, unsmooth of relief way,unclear content of financial information disclosure and the like. The forth part of this paper,by establishing principles, enacting and amending relevant laws, strengthening thesupervision mechanism and perfecting the relief way, etc, proposed solutions for all sorts ofproblems that hinder fiscal information disclosure. Lastly, I hope that the research on the opensystem of financial information can promote the progress of government informationdisclosure system, improve governance, Establish a good image and credibility of thegovernment, ensure the transformation of government functions from versatile to service andresponsibility, protect and improve civil rights system through constructing the financial information disclosure system, and highlight the basic status that information known bycitizen in the systems of civil right.