Opinions of the State Council on Further Improving the State-owned Capital Operating Budget System
Guo Fa [2024] No. 2
The people's governments of all provinces, autonomous regions, and municipalities directly under the Central Government, and all ministries and commissions of the State Council, and all agencies directly under the State Council:
The state-owned capital operating budget is an important part of the government budget, an important part of the state's state-owned assets management, and an important force for implementing the national strategy, enhancing the government's macroeconomic regulation and control capabilities, and promoting the optimization of the layout and structural adjustment of the state-owned economy. In order to further improve the system of state-owned capital operating budget and give better play to the functional role of the state-owned capital operating budget, the following opinions are hereby put forward.
1. General requirements
Guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, fully implement the spirit of the 20th National Congress of the Party, adhere to the general tone of seeking progress while maintaining stability, and be complete, accurate, Fully implement the new development concept, accelerate the construction of a new development pattern, focus on promoting high-quality development, adhere to and strengthen the party's overall leadership, adhere to and improve the basic socialist economic system, adhere to the direction of socialist market economy reform, and further improve the state-owned capital operating budget system in accordance with the requirements of deepening the reform of the budget management system and improving the state-owned assets supervision system based on capital management, expand the scope of implementation, strengthen the functional role, improve the management of revenue and expenditure, improve the efficiency of funds, support state-owned capital and state-owned enterprises to become stronger, better and bigger, enhance the core competitiveness of enterprises, and establish a closer connection between the state-owned capital operating budget and the state-owned assets reportIt is necessary to give full play to the important role of regulation and control of macroeconomic operations and the layout and structure of the state-owned economy.
-- Adhere to the party's leadership. We will uphold and strengthen the party's overall leadership throughout the entire process and all aspects of the management of the state-owned capital operating budget. Resolutely implement the decisions and arrangements of the Party Central Committee, and strengthen the ability of the state-owned capital operating budget to guarantee the implementation of major policies of the Party and the state.
– Promoting comprehensive coverage. Expand the scope of implementation of the state-owned capital operating budget in an orderly manner, and gradually realize that state-owned enterprises should be fully covered. Strictly implement the provisions of laws and regulations such as the Budget Law and its implementing regulations, the Company Law, and the Law on State-owned Assets of Enterprises, and collect state-owned capital gains in accordance with laws and regulations.
-- Supporting the development of enterprises. Strengthen capital injection to support the high-quality development of state-owned enterprises, promote the resolution of institutional and institutional problems in the development of state-owned enterprises, and promote better play the strategic supporting role of the state-owned economy.
-- Embodying the sharing of the whole people. Adhering to the principle of ensuring and improving people's livelihood in the process of development, the state-owned capital operating budget is mainly used to promote the high-quality development of state-owned enterprises and consolidate the material foundation for common prosperity. Taking into account the development of enterprises and the distribution of income, the proportion of state-owned capital gains handed over by classification and classification shall be determined, and part of the funds shall be transferred to the general public budget in accordance with regulations, so as to be used to protect and improve people's livelihood as a whole.
——Optimize the layout structure. Focus on promoting the optimization of the layout and structural adjustment of the state-owned economy, promote the concentration of state-owned capital in important industries and key areas related to national security and the lifeline of the national economy, in public services, emergency response capabilities, public welfare fields related to the national economy and people's livelihood, and in forward-looking strategic emerging industries, so as to promote high-quality economic development.
- Improving budget performance. Thoroughly implement the decisions and arrangements of the CPC Central Committee and the State Council on the full implementation of budget performance management, incorporate the state-owned capital operating budget expenditure into performance management, promote the deep integration of budget and performance, and comprehensively improve the efficiency of funds.
By the end of the "14th Five-Year Plan", a comprehensive, complete, structurally optimized, smooth and effective state-owned capital operating budget system will be basically formed. The functional positioning of the state-owned capital operating budget is clearer, the regulation and control role of macroeconomic operation and optimization of the layout of the state-owned economy is more effective, the forward-looking and guiding nature of the revenue and expenditure policy is more prominent, and the capital injection channels to support the high-quality development of state-owned enterprises are smoother and more stable.
2. Improve the mechanism for handing over state-owned capital gains
(1) Expand the coverage of the state-owned capital operating budget. Enterprises (i.e., first-class enterprises) that perform the duties of investors such as institutions (departments) authorized by the government shall hand over state-owned capital gains in accordance with regulations, unless otherwise provided by laws and regulations. State-owned capital gains include the profits payable by wholly state-owned enterprises and wholly state-owned companies, dividends and dividends of state-owned shares of state-owned holding and shareholding enterprises, income from the transfer of state-owned property rights, and income from liquidation of enterprises. Accelerate the handing over of state-owned capital gains by first-class enterprises run by party and government organs and public institutions in accordance with regulations. The capital formed and the rights and interests of financial institutions supported by state power and credit shall be included in the management of state-owned financial capital, except as otherwise provided by laws and regulations.
(2) Improve the mechanism for the transfer of income of wholly state-owned enterprises and wholly state-owned companies. Wholly state-owned enterprises and wholly state-owned companies shall calculate the handover income according to a certain proportion on the basis of the annual net profit attributable to the owners of the parent company, after deducting the unmade losses of previous years and the statutory provident fund withdrawn in accordance with the law. Governments at all levels shall, according to industries and types of enterprises, improve the rules for classifying and classifying the proportion of income handed over by wholly state-owned enterprises and wholly state-owned companies, and improve the dynamic adjustment mechanism. If it is necessary to make adjustments, the financial department at the same level shall make recommendations in conjunction with the institutions (departments) authorized by the government to perform the duties of investors, and report to the government at the same level for approval before implementation. The proportion of income handed over by classification and file applicable to the new enterprises shall be reviewed and confirmed by the financial department at the same level in consultation with the relevant units. Where laws and regulations provide otherwise, follow those provisions.
(3) Optimize the mechanism for handing over the income of state-owned shares of state-owned holding and shareholding enterprises. State-owned holding and shareholding enterprises shall establish and improve dividend distribution mechanisms in accordance with the principles of marketization and rule of law. When the institutions (departments) authorized by the government to perform the duties of investors, as well as relevant party and government organs and public institutions (hereinafter collectively referred to as "investor units"), study and put forward opinions on the profit distribution of state-owned holding and shareholding enterprises, they shall take into account the overall requirements for the optimization of the layout and structural adjustment of the state-owned economy, the characteristics of the industry in which the enterprise is located, the stage of development, the financial situation, the development plan, and the opinions of other shareholders, and the profit distribution of the opinions shall not be lower than the level of income submission of similar wholly state-owned enterprises and wholly state-owned companies in principle. The investor unit shall urge the state-owned holding enterprise to formulate a profit distribution plan in a timely manner in accordance with the law, and the time for the shareholders (general meeting) to deliberate and decide on the profit distribution plan of the previous year shall not be later than the end of September of the current year in principle, and after the profit distribution plan is passed, the enterprise shall hand over the dividends and dividends of state-owned shares in a timely manner according to the regulations.
(4) Strengthen the management of state-owned capital operating budget revenue. The revenue budget should be reasonably calculated according to the annual profitability of the enterprise and the policy of collecting state-owned capital gains, and the surplus funds of the previous year should be included in the scope of the revenue budget. Enterprises included in the coverage of the state-owned capital operating budget should ensure that the profit data is true and reliable, declare and hand over the income in full and in a timely manner, and those who are exempted from paying the income in accordance with the policy provisions shall make zero declaration. Standardize and improve the channels and methods for handing over state-owned capital gains. The income from the transfer and enrichment of the state-owned capital of the social security fund shall not be included in the management of the state-owned capital operating budget, and shall be implemented in accordance with the notice of the State Council on printing and distributing the implementation plan for the transfer of part of the state-owned capital to enrich the social security fund (Guo Fa [2017] No. 49) and other documents.
3. Improve the efficiency of state-owned capital operating budget expenditure
(5) Optimize the expenditure structure. The state-owned capital operating budget arrangement should earnestly implement the party's line, principles and policies, focus on key areas and weak links, enhance the financial guarantee for major national strategic tasks, strengthen capital injection, improve the efficiency of capital allocation, and better play a leading role in the development of important industries. It is mainly used to implement the decisions and deployments of the Party Central Committee and the State Council, ensure national strategies and security needs, support the high-quality development of state-owned enterprises, promote the optimization and structural adjustment of the layout of the state-owned economy, and transfer payments to specific matters of lower-level governments.
(6) Strengthen expenditure management. State-owned enterprises can declare their capital needs to the investor units according to the key support direction of the state-owned capital operating budget and the needs of enterprise development. It is necessary to strengthen the review and management of expenditure budgets, adhere to policy guidance, distinguish priorities, and improve the scientificity, effectiveness and accuracy of the use of funds. Strict budget constraints, and it is strictly forbidden to exceed the budget or arrange expenditures without a budget. The allocation of funds shall strictly implement the centralized payment system of the state treasury. Capital expenditure should be used to increase capital in a timely manner in accordance with the procedures, strictly implement the relevant provisions of enterprise capital increase, implement the rights and interests of state-owned capital, and form national equity and enterprise legal person property after capital injection, which shall be used by the enterprise in accordance with the prescribed direction and purpose. Expense expenditures should be used in strict accordance with regulations, and surplus funds should be returned to the treasury on their own initiative.
(7) Promote budget performance management. Establish a pre-performance evaluation mechanism for major expenditure policies, strengthen the management of performance objectives, do a good job in performance monitoring, and strengthen performance evaluation and application of results. Explore and carry out the overall performance evaluation of the state-owned capital operating budget, and the qualified areas should carry out the overall performance evaluation pilot, focusing on the implementation of the national strategy, expenditure structure, policy effect, etc., and comprehensively improve the policy efficiency and capital efficiency.
Fourth, improve the management of the state-owned capital operating budget
(8) Strengthen the management of the directory of state-owned enterprises. The investor unit shall regularly collect statistics on the number of enterprises it invests in, its assets and interests, profits and losses, etc., and establish a directory of the state-owned enterprises it has invested in;
(9) Improve budget preparation. The state-owned capital operating budget shall be drawn up in accordance with the principle of balancing revenue and expenditure, and shall not include deficits. Governments at all levels should strictly implement the provisions of the Budget Law and its implementing regulations, refine and improve the preparation and presentation of the budget, and improve the quality of the draft budget for the operation of state-owned capital. In the draft budget submitted to the people's congress at the corresponding level for examination, the revenue budget should be prepared by industry or enterprise, and the overall operating and financial status of the enterprise in the previous year should be explained; the expenditure budget should be prepared according to the direction and purpose of use, and the basis for project arrangement and performance targets should be explained.
(10) Take the initiative to accept the supervision of the people's congress and auditing. Comprehensively implement the requirements of the people's congress on strengthening the supervision of budget review and supervision and the supervision of the management of state-owned assets, improve the working mechanism for the connection between budget management and asset management, and better cooperate with the people's congress and the work of auditing, review and supervision.
5. Organization and implementation
(11) Strengthen organizational leadership. Thoroughly implement the spirit of General Secretary Xi Jinping's important instructions on improving the modern budget system and developing the state-owned economy, fully understand the importance of further improving the state-owned capital operating budget system, and ensure that the party's leadership is fully reflected and effectively strengthened in the entire process of state-owned capital operating budget management. All localities and relevant departments and units should support state-owned enterprises in operating independently in accordance with the law, and do a good job in collecting state-owned capital gains and managing the state-owned capital operating budget in accordance with laws and regulations. The party committees (party groups) of state-owned enterprises in various countries should include the improvement of the management of state-owned capital operating budgets in the important agenda of the party committees (party groups).
(12) Earnestly grasp implementation. The financial departments should earnestly perform the duties of managing and guiding the state-owned capital operating budget, and organize the preparation of the draft budget and final accounts for the operation of state-owned capital and the collection of state-owned capital gains. As a state-owned capital operating budget unit, the investor unit shall organize and supervise the state-owned capital gains handed over by the invested enterprises, submit a draft proposal for the state-owned capital operating budget to the financial department, reasonably refine the budget according to the budget management requirements and the budget control number issued by the financial department, and strengthen the examination and supervision of the use of funds and final accounts of the invested enterprises.
(13) Establish and improve safeguard mechanisms. Financial departments and investor units should improve their internal work mechanisms, strengthen organizational guarantees, and improve the scientific and standardized management of the state-owned capital operating budget. Strengthen the support of information technology, promote the construction of an integrated budget management system, and improve the preparation, implementation, information statistics and other functions of the state-owned capital operating budget. Intensify policy publicity, exchange and training, and improve the professional ability and level of relevant staff.
State council
January 1, 2024
(This is a public release)