China's Public Finance

Public finance is not only an important topic in the study of theories of finance, it is also closely related to the reform and development of finance in practice. When China started to reform its economic system some three decades ago, the concept of public finance was put forward to serve the establishment of a new financial operating model that could fulfill the requirements of the
emerging socialist market economy. The major functions of public finance are those of fiscal revenue, financial expenditure and the regulation and control of finance.