China : PIM under Reform and Decentralization

China's transition from a planned to a market economy has required a fundamental change in the role of government in economic decisions. Progress in reforming public investment management (PIM) has been uneven, with notable successes alongside...

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Main Author:	Wong, Christine
Format:	Public Investment Review
Language:	English en_US
Published:	World Bank, Washington, DC 2014
Subjects:	ACCOUNTING BANKS BIASES BIDDING BOND BOND ISSUES BONDS BORROWING BUDGETARY ALLOCATION BUDGETING COLLATERAL COMMERCIAL BANK DEBT DECENTRALIZATION DEVOLUTION DOMESTIC%CREDIT EARNINGS ENTREPRENEURIALISM EQUALITY EQUIPMENT EXPENDITURE EXPENDITURES FINANCES FUNDING%SOURCES GOVERNMENT%FUNDING HOUSING INEQUALITY INFRASTRUCTURE%INVESTMENT INVESTING INVESTMENT MANAGEMENT INVESTMENT%FUNDING ISSUANCE LEVIES LOCAL%GOVERNMENT MUNICIPALITIES PUBLIC FACILITIES PUBLIC INVESTMENT REAL ESTATE REAL ESTATE DEVELOPMENT REPAYMENT SAVINGS SOURCE%OF%FUNDS SURCHARGES TAX TELECOMMUNICATIONS TRANSPARENCY TRANSPORT TREASURY URBANIZATION VILLAGES WITHDRAWAL
Online Access:	http://documents.worldbank.org/curated/en/2014/01/23068592/china-pim-under-reform-decentralization http://hdl.handle.net/10986/21045

id	okr-10986-21045
recordtype	oai_dc
spelling	okr-10986-210452021-04-23T14:04:00Z China : PIM under Reform and Decentralization Wong, Christine ACCOUNTING BANKS BIASES BIDDING BOND BOND ISSUES BONDS BORROWING BUDGETARY ALLOCATION BUDGETING COLLATERAL COMMERCIAL BANK DEBT DECENTRALIZATION DEVOLUTION DOMESTIC%CREDIT EARNINGS ENTREPRENEURIALISM EQUALITY EQUIPMENT EXPENDITURE EXPENDITURES FINANCES FUNDING%SOURCES GOVERNMENT%FUNDING HOUSING INEQUALITY INFRASTRUCTURE%INVESTMENT INVESTING INVESTMENT MANAGEMENT INVESTMENT%FUNDING ISSUANCE LEVIES LOCAL%GOVERNMENT MUNICIPALITIES PUBLIC FACILITIES PUBLIC INVESTMENT REAL ESTATE REAL ESTATE DEVELOPMENT REPAYMENT SAVINGS SOURCE%OF%FUNDS SURCHARGES TAX TELECOMMUNICATIONS TRANSPARENCY TRANSPORT TREASURY URBANIZATION VILLAGES WITHDRAWAL China's transition from a planned to a market economy has required a fundamental change in the role of government in economic decisions. Progress in reforming public investment management (PIM) has been uneven, with notable successes alongside glaring weaknesses. This report examines the institutional framework of China's PIM system and its evolution through the transition period, its, efforts at reform, and outcomes. The government s strategy was to reform the existing PIM framework incrementally by decentralizing responsibility to subnational governments (SNGs) and opening up investment to private participation at the margin. The process of decentralization and marketization proceeded much faster than expected in the 1980s and 1990s, when dismantling the planning mechanisms caused a steep decline in government revenues, especially central government revenues. China's transition from a planned to a market economy has required a fundamental change in the role of government in economic decisions. Among the most important are those affecting investment, where reform has seen the Chinese government curtail its role and attempt to shift from directing the overall pattern of investment to ensuring adequate support to economic growth and public services. 2014-12-31T15:32:48Z 2014-12-31T15:32:48Z 2014 http://documents.worldbank.org/curated/en/2014/01/23068592/china-pim-under-reform-decentralization http://hdl.handle.net/10986/21045 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank, Washington, DC Economic & Sector Work :: Public Investment Review East Asia and Pacific China
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	ACCOUNTING BANKS BIASES BIDDING BOND BOND ISSUES BONDS BORROWING BUDGETARY ALLOCATION BUDGETING COLLATERAL COMMERCIAL BANK DEBT DECENTRALIZATION DEVOLUTION DOMESTIC%CREDIT EARNINGS ENTREPRENEURIALISM EQUALITY EQUIPMENT EXPENDITURE EXPENDITURES FINANCES FUNDING%SOURCES GOVERNMENT%FUNDING HOUSING INEQUALITY INFRASTRUCTURE%INVESTMENT INVESTING INVESTMENT MANAGEMENT INVESTMENT%FUNDING ISSUANCE LEVIES LOCAL%GOVERNMENT MUNICIPALITIES PUBLIC FACILITIES PUBLIC INVESTMENT REAL ESTATE REAL ESTATE DEVELOPMENT REPAYMENT SAVINGS SOURCE%OF%FUNDS SURCHARGES TAX TELECOMMUNICATIONS TRANSPARENCY TRANSPORT TREASURY URBANIZATION VILLAGES WITHDRAWAL
spellingShingle	ACCOUNTING BANKS BIASES BIDDING BOND BOND ISSUES BONDS BORROWING BUDGETARY ALLOCATION BUDGETING COLLATERAL COMMERCIAL BANK DEBT DECENTRALIZATION DEVOLUTION DOMESTIC%CREDIT EARNINGS ENTREPRENEURIALISM EQUALITY EQUIPMENT EXPENDITURE EXPENDITURES FINANCES FUNDING%SOURCES GOVERNMENT%FUNDING HOUSING INEQUALITY INFRASTRUCTURE%INVESTMENT INVESTING INVESTMENT MANAGEMENT INVESTMENT%FUNDING ISSUANCE LEVIES LOCAL%GOVERNMENT MUNICIPALITIES PUBLIC FACILITIES PUBLIC INVESTMENT REAL ESTATE REAL ESTATE DEVELOPMENT REPAYMENT SAVINGS SOURCE%OF%FUNDS SURCHARGES TAX TELECOMMUNICATIONS TRANSPARENCY TRANSPORT TREASURY URBANIZATION VILLAGES WITHDRAWAL Wong, Christine China : PIM under Reform and Decentralization
geographic_facet	East Asia and Pacific China
description	China's transition from a planned to a market economy has required a fundamental change in the role of government in economic decisions. Progress in reforming public investment management (PIM) has been uneven, with notable successes alongside glaring weaknesses. This report examines the institutional framework of China's PIM system and its evolution through the transition period, its, efforts at reform, and outcomes. The government s strategy was to reform the existing PIM framework incrementally by decentralizing responsibility to subnational governments (SNGs) and opening up investment to private participation at the margin. The process of decentralization and marketization proceeded much faster than expected in the 1980s and 1990s, when dismantling the planning mechanisms caused a steep decline in government revenues, especially central government revenues. China's transition from a planned to a market economy has required a fundamental change in the role of government in economic decisions. Among the most important are those affecting investment, where reform has seen the Chinese government curtail its role and attempt to shift from directing the overall pattern of investment to ensuring adequate support to economic growth and public services.
format	Economic & Sector Work :: Public Investment Review
author	Wong, Christine
author_facet	Wong, Christine
author_sort	Wong, Christine
title	China : PIM under Reform and Decentralization
title_short	China : PIM under Reform and Decentralization
title_full	China : PIM under Reform and Decentralization
title_fullStr	China : PIM under Reform and Decentralization
title_full_unstemmed	China : PIM under Reform and Decentralization
title_sort	china : pim under reform and decentralization
publisher	World Bank, Washington, DC
publishDate	2014
url	http://documents.worldbank.org/curated/en/2014/01/23068592/china-pim-under-reform-decentralization http://hdl.handle.net/10986/21045
_version_	1764447604507148288

China : PIM under Reform and Decentralization

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