App | 中文 |

Plans unveiled for optimizing unused funds

Updated: Jan 21,2015 9:03 PM

The State Council General Office issued a circular on Jan 21, unveiling plans to better utilize unused government funds.

The office said central government departments and local governments should transfer any unspent money from the 2012 fiscal year, or earlier, to new budgets.

The goal is to “ensure the proactive fiscal policy is better functioning” and improve the utilization of funds, the circular said.

According to a pilot plan starting this year, three-year rolling budgets will be made in sectors such as compulsory education, healthcare and environmental protection to regulate programs under planning, the circular said.

Preparations should be in place after the programs are listed in the three-year rolling budgets to make sure “the money comes into use immediately” upon its being transferred to the account, the circular said.

It also vowed to intensify crackdowns on violations such as embezzlement of state revenue.