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Department of Finance of Zhejiang Province
Date:2020-09-01 09:12

Department of Finance of Zhejiang Province implements the guidelines and policies, and decisions and deployments of the Party Central Committee and the Provincial Party Committee on finance, and adheres to and strengthens the Party's centralized and unified leadership over finance in the process of performing its duties. Its main responsibilities include:


(1) Formulating and organizing the implementation of development strategies, plannings, policies and reform plans for the development of fiscal and taxation work in the province: analyzing and forecasting the macroeconomic situation, participating in the formulation of relevant macroeconomic policies, and putting forward suggestions on the implementation of national macro control policies; formulating and implementing fiscal distribution policies, and improving fiscal and taxation policies that encourage the development of public welfare undertakings.


(2) Putting forward proposals for provincial fiscal legislation planning; draft local laws and regulations on the management of fiscal affairs, taxation, finance and accounting; supervising the implementation of fiscal and taxation laws and policies.


(3) Being responsible for the management of various financial revenues and expenditures: drafting and organizing the implementation of the annual budget and final accounts in the province; organizing the formulation of expenditure standards and quotas, and reviewing and approving the annual budget and final accounts of departments (units); entrusted by the Provincial Government, reporting the provincial and provincial-level budgets and their implementation to the Provincial People's Congress, and reporting the final accounts to the Standing Committee of the Provincial People's Congress; being responsible for the management of fiscal budget of government investment funds and state-owned assets; being responsible for the publication of provincial budget and final accounts; researching and putting forward and organizing the implementation of proposals for fiscal system reforms below the provincial level; improving the system for transfer payment from the province to cities and counties; guiding the fiscal work of townships across the province.


(4) Being responsible for the management of government non-tax revenues according to division of labor; being responsible for the management of government funds, and managing administrative fees in accordance with regulations; managing fiscal receipts; formulating policies and regulations on lottery management, regulating the lottery market, and managing lottery funds in accordance with regulations; being responsible for the construction and promotion of unified public payment platforms.


(5) Organizing the formulation of the treasury management system and the centralized treasury collection and payment system, guiding and supervising the treasury business, and carrying out treasury cash management in accordance with regulations; organizing the formulation of management systems for special fiscal accounts, budget unit accounts and fund deposit; being responsible for the accounting and management of the provincial fiscal budget; being responsible for the formulation of the province's total financial final accounts, departmental final accounts, and government financial reports.


(6) Being responsible for supervising and managing government procurement in the province: being responsible for establishing a unified electronic government procurement management and transaction platform across the province, and being responsible for the foreign affairs of government procurement.


(7) Being responsible for managing the government's internal and external debts: being responsible for managing debts of local governments, and preventing and resolving debt risks facing local governments; being responsible for the issuance of local government bonds; managing the loan (grant) business of international financial organizations and foreign governments.


(8) Taking the lead in compiling reports on state-owned assets management; according to the authorization of the Provincial Government, fulfilling the responsibilities of contributors of provincial state-owned financial capital in a centralized and unified manner, and fulfilling the responsibilities of contributors to relevant enterprises on behalf of the Provincial Government; formulating and implementing an administrative and institutional asset management system.


(9) Being responsible for drafting state-owned capital operation budget and final accounts; formulating systems and methods for state-owned capital operation budgets, and collecting state-owned capital gains from enterprises at the provincial level; formulating and implementing corporate financial systems; formulating expenditure standards, expenditure policies and management systems that need to be uniformly stipulated in the province.


(10) Being responsible for the management of social insurance funds according to authority; being responsible for drafting the provincial and provincial-level social insurance fund budget and final accounts, formulating social insurance fund fiscal subsidy policies and financial accounting management systems, and managing the revenue and expenditure, investment and operation, and value maintenance and appreciation of the social insurance fund; participating in the formulation of social insurance policies.


(11) Being responsible for handling and supervising the economic development expenditure of the provincial finance: being responsible for the formulation of  budgets for provincial-level government investment and funding arrangements for provincial-level major government investment projects; formulating the financial management system for basic construction, and being responsible for the financial management of related policy subsidies and special reserve funds.


(12) Being responsible for implementing budget performance management: establishing a budget performance management system, organizing the implementation of prior performance evaluation, performance target management, performance monitoring and performance appraisal.


(13) Managing the accounting work in the province, and supervising and standardizing the accounting practice: organizing the implementation of the unified national accounting system, guiding and supervising the business of certified public accountants, accounting firms, and bookkeeping agencies, and guiding and managing social audits: managing the work related to asset evaluation in accordance with the law; guiding the promotion of Party building in the certified accountants and asset appraisal industries.


(14) Completing other tasks assigned by the Provincial Party Committee and the Provincial Government.


Department of Finance of Zhejiang Province consists of agencies including General Office, Personnel Office, Party Committee, Office of Policies and Regulations, General Budget Bureaus, Office of Local Government Debt Management, Tax Administration Office, Budget Execution Bureau, Comprehensive Office, Accounting Office, Office of Administrative Politics and Laws, Science and Education Office, and Culture Offices (Office of Supervision and Management of State-owned Assets in Provincial Cultural Enterprises), Administrative Assets Management Office, Agriculture Office, Grassroots Financial Management Office, Enterprise Office, Finance Office, Social Security Office, Economic Construction Office, Financial Supervision Bureau, Performance Management Office, and Government Procurement Supervision Office.


There are 10 institutions under this department, namely Provincial Fiscal Treasury Payment Center of Zhejiang, Financial Project Budget Review Center of Zhejiang Province, Financial Receipt Management Center (Zhejiang Non-tax Revenue Center) of Zhejiang Province, and Budget Center for Zhejiang Provincial Departments (Zhejiang Local Government Debt Management Center), Research Office of Financial and Taxation Policies of Zhejiang, Zhejiang Digital Finance Management Center, Zhejiang State-owned Financial Capital Operation Evaluation Center, Zhejiang Social Security Fund and Traffic Accident Relief Fund Management Center, Zhejiang Accounting Affairs Service Center, Education and Logistics Center for Financial Leaders of Zhejiang Province.

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