East China’s Jiangsu Province has issued the "Opinions on the Comprehensive Implementation of Budget Performance Management" in a bid to further optimize the allocation of financial resources and improve the quality of public services.
According to the periodical and hierarchical task objectives put forth by the opinions, by the end of 2019 and the end of 2020, the provincial and municipal finances will include the general public budget into the whole process budget performance management.
By the end of 2020 and the end of 2022, the provincial and municipal finances will have basically completed a management-level all-round, management chain process, and a budget performance management system that covers all public funds.
The opinion emphasizes that expected performance will be used as the basis for the allocation of budgetary funds. In principle, policies and projects with good performance will be given priority protection, and policies and projects with general performance should be urged to improve.
The policies and projects for cross-repetition and fragmentation will be adjusted, and the inefficient and ineffective funds will be reduced or canceled. The funds that have been deposited for a long time will be fully recovered and will be used in areas that are in urgent need of support in accordance with relevant regulations.
