Main responsibilities

1. Implement fiscal laws, regulations, rules, guidelines, and policies; conduct research and draw up local regulations, rules and policies concerning public finance and implement such as adopted.

2. Formulate the taxation and fiscal development strategies, planning and reform plans of Shanghai Municipality and implement such as adopted; participate in analysis and forecast of Shanghai’s macro-economic development and hence the formulation of macro-economic policies; improve the governmental budget management system covering fiscal budgets, government fund budgets, state-owned capital management budgets and social security fund budgets; deepen the reform of departmental budgetadministration and update budget expenditure standards; strengthen the administration of mid-term fiscal planning, establish and improve the cross-year budget balance mechanism; make suggestions on how to perform macro control and comprehensive balance for financial resources in light of fiscal and taxation policies; improve systems and rules to make sure that governments’ administrative powers are commensurate with their financial resources allocating powers and spending responsibilities between municipal and district levels; and formulate and implement financial distribution policies between municipal and district-level governments and between governments and businesses.

3. Manage government revenues and expenditures; draft annual fiscal budgets and final accounts and implement such as adopted; report to Shanghai Municipal People’s Congress on the budgets and their execution situation and report to the Standing Committee of Shanghai Municipal People’s Congress on the final accounts on behalf of Shanghai Municipal People’s Government; organize the formulation of budget expenditure standards, review and approve all government departments’ annual budgets and final accounts, and timely and accurately allocate budget funds; improve the payment system for transfer from the municipal level to the district level; formulate systems and measures for budget performance management, and establish a sound budget performance management mechanism; and establish and improve a working mechanism for Shanghai Municipal People’s Government for purchase of public services.

4. Manage non-tax government revenues by the line of authority; manage government funds and revenues from administrative chargesaccording to administrative regulations; manage financial bills; regulate the lottery market and review and approve the lottery sales schemes; and supervise the collection and use of lottery funds in accordance with relevant regulations.

5. Formulate and implement the treasury administration system and treasury single account system; allocate and manage fiscal funds, audit the general budget accounting, and manage treasury cash; organize to implement the management of the integrated government fiscal reporting system; implement the issuance of local government bonds and repayment of principal and interest; formulate Shanghai Municipality’s government procurement system and supervise its performance; and oversee the control over procurement of public service vehicles.

6. Lead the establishment of an integrated financial reporting system for State-owned assets management; formulate and implement administrative rules and regulations for state-own assets in government organs and public institutions; and manage such assets in accordance with relevant provisions; and formulate and implement a management system for the use of public service vehicles by the Party and government bodies.

7. Review and compile the draft budgets and final accounts of all social security funds; formulate a financial management system for social security funds together with other relevant departments; and oversee and manage the financial accounts of all social security funds.

8. Review and compile the draft budgets and final accounts for Shanghai Municipality’s state-owned capital management; formulate administrative rules, regulations and measures for budgets and final accounts of state-owned capital management together with other relevant departments; collect the earnings of state-owned capital from municipal-level enterprises; organize the implementation of financial systems, and manage asset appraisal in accordance with relevant regulations.

9. Handle and oversee municipal-level fiscal expenditures to support economic development and the allocation and use of financial resources for government-funded investment projects; participate in formulating relevant policies for municipal-level governmental investments, oversee the implementation of rules and regulations for financing infrastructure construction, manage policy subsidies and special reserve funds; and formulate policies and rules for the performance evaluation of Shanghai Municipality’s fiscal expenditures and implement such as adopted.

10. Manage non-trade foreign exchange receipts and payments by and from government organs, public institutions and non-governmental organizations financed by government budgets; and oversee the knowledge cooperation and loan projects between Shanghai and foreign governments and international financial organizations (including the World Bank) and the financial operation of such projects.

11. Implement the Central Government’s rules and policies on domestic debt administration, formulate and implement local rules and measures for government debt administration; establish and update mechanisms for debt management, risk early-warning and debt-financing of municipal and district governments to prevent from any financial risk; manage the government’s foreign debts on a unified basis and implement the basic administrative by law.

12. Manage, supervise, and regulate accounting practices, and organize the implementation of the unified national accounting system; oversee and manage the operations of accounting firms and asset appraisal institutions; and oversee the practice of certified public accountants.

13. Oversee the implementation of taxation and fiscal laws, regulations and policies, and the financial and accounting management; identify problems in the implementation of fiscal policies, management of fiscal revenues and expenditures, government procurement and financial management and the like; and make recommendations for strengthening management.

14. Carry out other tasks as may be assigned by the CPC Shanghai Municipal Committee and Shanghai Municipal People’s Government.