Research on Issues of the Treasury Single Payment System

Author: Ma Haitao
Publisher:
Publish Date: 2004-08-01
Features: The research approach of this topic involves a comprehensive and systematic analysis and discussion of the theory and practice of China's treasury reform from the perspectives of modern treasury centralized collection and payment system theory, international experience comparison and reference, the historical evolution and current status of China's treasury system, and reform ideas and exploration. The study proposes policy recommendations for advancing treasury reform and improving the treasury centralized collection and payment system. This research report places the treasury centralized collection and payment system within the framework of public financial management systems, pointing out that this approach represents a fundamental transformation in treasury management models. It argues that the fundamental driving force behind the evolution of treasury management models is the pursuit of reduced institutional costs. Based on a description and analysis of the pilot programs for treasury management system reform, the report proposes that the guiding principle for deepening treasury system reform is: gradually incorporating all government revenues and expenditures into the budget and centralizing their collection and payment through the treasury. Building on the improvement of a unified account system, relying on modern information science and technology, and centered on treasury collection and payment, a standardized and efficient mechanism for government fiscal revenue and expenditure operation and management should be established. To this end, the report proposes corresponding countermeasures and suggestions from aspects such as revenue collection and payment systems, treasury payment systems, budget systems, budget accounting systems, as well as the legal environment, technical support, and incentive and constraint mechanisms.