Research On The Improvement Of The Public Finance Budget Supervision Mechanism Of China

Whether the public finance income and expenses can get effective supervision and control is an important issue which concerns if our government finance income will be used transparently and reasonably. Budget supervision of public finance is an important matter in government administration for it receives a great deal of attention from the whole country, and it can also reflect the effectiveness of government’s ruling. Budget supervision mechanism is an important security system to supervise and restrict the income and expense of public finance. Nowadays, the western countries have formed the government budget supervision system whose major part consists of congress and audit institutions; the active involvement of the public is included as well. China, recently, has also developed many different forms of government budget supervision mechanisms which contains NPC supervision, administrative supervision, audit supervision and public supervision.In reality, with the growing financial revenue and expenditure of government, problems have started to emerge in national auditing. For instance, some ministries and commissions in power bend the law for personal gains as well as misuse extra budgetary funds, which causes essential loss of national property. It is of the utmost importance to strengthen the budget scrutiny and supervision in the management of revenue and expenditure control of public finance. The current mechanism has been under a long-term research, however, no substantiated theoretical model or eligible form for wide application has been found to effectively ameliorate China’s public budget supervision system, requesting in-depth discussion and research of both academic institutions and related governmental departments. Public budget supervision system is a very complicated and arduous subject. It is not just a financial problem but also a juristic, management and philosophical problem. The perfection of public finance supervision system has great significance for the development of our country. This article takes the main components of the budget supervision system as the entry point and analyzed its current situation and problems. Considering our actual conditions in China, this article includes a case of budget supervision reform in a city of Guangdong province to bring forward the current problems in the supervision mechanism and its causes. Meanwhile, by adopting available model and experiences of western countries in their reforms of budget management, we brings forward the measurement and policy suggestion for perfecting and reforming our public finance budget supervision, which covers budget reform direction, integrity of budget system and reform scheme.