Page 48 - REPORT ON THE EXECUTION OF THE CENTRAL AND LOCAL BUDGETS FOR 2022 AND ON THE DRAFT CENTRAL AND LOCAL BUDGETS FOR 2023

management of centralized treasury collections and payments to raise the
efficiency of fund payments across the board. We will urge relevant departments
and organizations to strengthen management of budgetary revenue and

expenditure and to assume responsibility for ensuring budgets are holistic,
standardized, and authentic as well as for the results of budget execution. We will

strengthen the role of project databases as a fundamental support and see that
reserves of projects are thorough and meticulous to ensure that budgets can be put
to use as soon as they are approved, avoiding situations where funds are left to sit

idle. We will expand the scope of integrated budget management and reinforce
monitoring and early warning for fiscal operations so as to better facilitate budget

execution and policy implementation. We will increase the transparency of
government and department budgets and final accounts, providing a wider range

of more detailed information in improved formats. We will take major strides in
making fiscal policies available to the public and willingly accept public oversight.

We will carry out a dedicated initiative to supervise the implementation of budgets
to encourage the standardized, safe, and efficient use of government funds.
2. Fulfilling belt-tightening requirements

Hard work and frugality are the guiding tenets and enduring principles of
fiscal work. We will make consistent efforts to see that Party and government

offices tighten their belts. To this end, we will keep a firm hand on budget
management, asset allocation, and government procurement, fulfill our duty to

carefully manage public finance and exercise strict control over budgets, and
establish a mechanism to make sure fiscal funds are used prudently. We will

strictly control general expenditures, strengthen management over budgets for
spending on official overseas visits, official vehicles, and official hospitality, and
prohibit all unnecessary projects and expenditures in order to channel more fiscal

resources toward ensuring stable growth, employment, and prices. We will urge
localities and departments to intensify regular oversight and management over

funds and projects to prevent government funds from being diverted or used in
breach of regulations.

3. Stepping up performance-based budget management
To continue advancing performance-based budget management, we will apply

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