Ministry of Finance represents the macro-control department in charge of basic work of financial income and expense, financial policy, state owned capital.

Its main responsibility include:

1, To formulate and implement the development strategy, guideline, policy, medium and long term plan, reform plan of finance and revenue. To participate in the formulation of all kinds of macro economy policy. To propose suggestions concerning the employment of financial policy, implementation of macro-adjustment, and comprehensive balance social financial ability. To formulate and implement the allocation policy between the central and local government, state and enterprise.

2, To formulate the law and regulation draft of finance, basic management of, state owned capital, financial affairs, and accountants management. To formulate and implement the regulation system concerning finance, financial affairs, and accountants management; And to organize negotiation of foreign finance and debts, and initial related agreements.

 3, To workout drafts of annual budget and final accounts of central government, and to organize the implementation. Commissioned by National People’s Congress and State Council, to report the budget implementation of central and local government to National People’s Congress, and to report the final accountant to the standing committee of National People’s Congress. To manage the financial revenue of central government and to manage the extra-budgetary capital and special financial accountant of central government. To manage the government fund.

4, To propose the legislative plan of taxation. To propose suggestions concerning the increase and decrease of the varieties of tax, adjustment of tax items and tax rate, tax exemption and tax-free and temporary special tax exemption that impose significant influence on central finance. To participate in the negotiation of foreign revenue and international tariff, to sign on the agreement concerning revenue. To formulate international revenue agreement and pact model. To undertake daily work of the standing committee of tariff regulation of State Council.

5, to manage the public expense of the central finance and to formulate and implement the government stock policy. To manage non-trade foreign exchange and budget international revenue of administrative organization, public institution, and social organization within financial budget. To formulate standard and policy required national unified regulation. To formulate and implement Financial Regulations of Public Institutions, Financial Regulation of Administrative Institutions. And to formulate basic establishment financial system.

, To formulate and implement the guideline policy, reform scenario, regulation system, and management measure of state owned capital basic administration. To organize and implement the assets check, definition and registration of capital authority of SOE, To be responsible for the statistics and analysis of state owned capital, and to direct property evaluation.

7, To handle and supervise economic development expenses of central finance, appropriate funds of projects invested by central government, and potential development capital and reconstruction and new products trial manufacture fee. To be responsible for the comprehensive development of agriculture. To formulate and supervise the implementation of General Rules of Enterprise Finance.

 8, To manage the expense of central finance social guarantee. To formulate finance management system of social guarantee capital. To organize the implementation of financial supervision of the use of the social guarantee capital.

9, To formulate and implement the guideline policy, regulation, management measures of international and domestic debts of government. To undertake negotiation of foreign government loan, World Bank loan, and Asian Development loan, and The Export & Import Bank of Japan loan. To represent government to participate in the international financial organization.

10, to formulate and supervise the implementation of accounting regulation system, Corporation Accounting Rule, and accounting system of general budget. To supervise and direct certified public accountants (CPAs) and their offices, and to direct auditing.

11, To supervise the implementation of financial guidelines and policies, to check important issues in revenue management, to propose suggestions for financial management, to manage supervisor offices.

12, To formulate scientific research and education plan of finance, to organize human resource training, to manage financial information and public promotion.

13, other issues assigned by State Council.