Research On The Budget Supervision Mechanism Of Central State-owned Capital Operation

In the report of the 19 th National Congress of the Communist Party of China(CPC),the new concept of "implementing performance management in an all-round way" has set the goal and overall requirements for the reform of fiscal and taxation system and the improvement of budget management system.In this context,the CPC Central Committee and the State Council issued the opinions on the full implementation of budget performance management,which put forward new and higher requirements for strengthening the supervision of state-owned capital operating budget and perfecting its supervision mechanism.Based on the above background,this paper chooses "the central state-owned capital management budget supervision mechanism" as the research object,through literature research and system analysis and other research methods,this paper makes a systematical analysis of the actual operation flow of the central state-owned capital operating budget,the situation of the main budget supervision bodies and the relevant situations of the commonly used budget supervision methods at present in China Thus,it is clear that there are mainly problems in the central state-owned capital operation budget supervision in our country,for example,the system construction is not perfect and the main body of supervision is out of balance and the supervision mode is single and the effect is not strong and the supervision process is heavy in front but light in back,etc.And on the basis of "principal-agent theory" and other relevant economic and political theories,through the use of incomplete information static game model,"rent-seeking" theory and two-stage dynamic game model to analyze the theoretical mechanism of the system,and further clarify the deep-seated reasons for the related problems,it also makes the importance and effective ways of strengthening the central state-owned capital operation budget supervision clear.And then,based on the empirical data of some a-share listed central enterprises,this paper validates the viewpoints of hypothesis 1: "the implementation of state-owned capital operation budget system can effectively improve the management efficiency of central enterprises" and hypothesis2: "strengthening the supervision of state-owned capital operation budget can effectively improve the management efficiency of central enterprises".Finally,based on the analysis of the current situation,theoretical mechanism and empirical analysis,this paper puts forward the countermeasures to improve the central governmentbudget supervision mechanism.That is to strengthen the related system construction and construct the central state-owned enterprise budget supervision system with the National People's Congress and its Standing Committee as the core and the overall balance and mutual restriction of the supervision bodies and optimize and innovate the ways and means of supervision and establish and perfect the systematic and scientific performance appraisal system.Therefore,it is of practical value to perfect the central budget system and budget supervision mechanism of the state-owned enterprises in China,and it can also enlighten the later researchers.