HomeReportsBureau of Economic and Business Affairs2022 Fiscal Transparency Report…China hide 2022 Fiscal Transparency Report: People's Republic of China In this section Government-by-Government Assessments: People's Republic of China Government-by-Government Assessments: People's Republic of China During the review period, the government made its enacted budget and end-of-year report accessible to the public, including online, but it did not publish an executive budget proposal before enacting the budget. Information on debt obligations was publicly available but was not always complete or updated. Budget documents did not identify financial allocations to or earnings from state-owned enterprises. Not all major state-owned enterprises had publicly available audited financial statements and they did not disclose their debt holdings. The supreme audit institution did not meet international standards of independence but reviewed the government’s accounts and made audit reports publicly available within a reasonable period. The government specified in law or regulation and appeared to follow in practice the criteria and procedures for awarding natural resource extraction contracts and licenses. Basic information on natural resource extraction awards was publicly available. The sovereign wealth fund had a sound legal framework and disclosed its sources of funding, but not its general approach to withdrawals. The People’s Republic of China’s fiscal transparency would be improved by: Publishing executive budget proposals ahead of the budget’s enactment; Providing timely and complete information on debt obligations; Detailing debt holdings as well as financial allocations to and earnings from state-owned enterprises in the budget or other public documents; Publishing audit reports for major state-owned enterprises; Establishing an independent supreme audit institution that meets international standards of independence; and Disclosing the sovereign wealth fund’s general approach to withdrawals. View report by: China Iraq Pakistan Ukraine Afghanistan Comoros Kazakhstan Palestinian Authority Uzbekistan Algeria Democratic Republic of the Congo Laos Papua New Guinea Vietnam Angola Republic of the Congo Lebanon Sudan Yemen Azerbaijan Djibouti Lesotho Rwanda Zambia The Bahamas Dominican Republic Liberia Sao Tome and Principe Zimbabwe Bahrain Ecuador Libya Saudi Arabia Bangladesh Egypt Madagascar Senegal Belize El Salvador Malawi Sierra Leone Benin Equatorial Guinea Maldives Somalia Burma Eswatini Mali South Sudan Burundi Ethiopia Mauritania Suriname Cambodia Gabon Mozambique Tajikistan Cameroon Guinea Nicaragua Tanzania Central African Republic Guinea-Bissau Niger Turkmenistan Chad Haiti Oman Uganda On This Page search > < Government-by-Government Assessments: People's Republic of China Tags Bureau of East Asian and Pacific Affairs Bureau of Economic and Business Affairs China Division for International Finance and Development Back to Top