Kunming bureau of finance gave a training lecture on China’s new Budget Law to all of its officials from local finance branches on May 8.

The lecture focused on the enhancement of integrity and transparency of budgetary performance as well as budgetary control. Attendees learned about the significance of standardized management methods about government debt, financial transfer payment systems and budgetary scrutiny.

The new law attaches greater importance to whether budget targets are met and how effectively the money is spent, which would consequently lead local government to provide better public services with less expenditure, according to a fiscal official from the Kunming Hi-Tech Zone. “Since we now better understand the new Budget Law, we will enhance management and supervision mechanisms and handle fiscal issues in strict conformity with legal provisions,” he added.

Edited by Mevlut Katik