Brief Introduction to Financial Yearbook

This section of data are compiled on basis of the national financial accounts and national financial budget, final accounts of revenue and expenditure of foreign capital and other related financial statements from the departments of finance, aiming to present a clear view of national financial revenue and expenditure.
National financial accounts are composed of central accounts and local accounts. Local accounts include total accounts of all provinces (autonomous regions and municipalities) which are composed of accounts of provinces (autonomous regions and municipalities) and accounts of their respective prefectures, counties (cities).
Central accounts, accounts of provinces (autonomous regions and municipalities) and total accounts of prefectures and counties (cities) are composed of administrative institutions accounts drawn by departments in charge of the same level, business financial accounts, infrastructure construction financial accounts and annual report of treasury and revenue.
Before the end of the year, in order to ensure the accuracy and integrity of accounts data, verification of the year on the budge data between the upper and lower levels shall be made between all levels of budgets, general budgets and department budgets as well as department budgets and their respective unit budgets. After the end of the year, verification on final accounts data will be made by the State Treasury and budget units, based on which statement of account and certificate will be drawn and reported respectively in system.
In order to keep the consistency of the accounts, every year the Ministry of Finance shall draw and issue charts of total accounts of provinces (autonomous regions and municipalities) and accounts of central units while departments of finance at different levels and central departments in charge shall also release concerned final accounts charts in the light of specific circumstances. The charts are kept in line with the composition of national financial accounts with two major parts, the charts of total accounts for departments of finance at all levels and charts of unit accounts for unit budget offices. The data in the charts are based on total budget or accounting books of unit budget.
The data in financial revenue and expenditure is collected and compiled on the basis of the data in the final chart of final revenue and expenditure accounts, the detailed statement of final revenue accounts and the detailed statement of final expenditure.
The final revenue and expenditure accounts of extra-budgetary funds and related financial statements are compiled and reported in the same way of national accounts.
In order to confront the inconsistence in financial revenue, financial expenditure and other financial revenue and expenditure over the years that resulted from the changes and shifts in financial system and budgeting methods, this yearbook made adjustments in related data to make it comparable between different years. The major adjusted items embody as follows,

  1. Financial revenue: the domestic and foreign borrowings of 1993 and prior years are excluded from financial revenue and no longer taken as financial revenue. The fiscal prices subsidies of 1978-1985 are changed from eat-up part of financial revenue into financial expenditure. Accordingly, debt income is excluded from 'the national financial income of projects', 'the national financial income of departments' and 'the national financial income of economy types,' are adjusted correspondingly.
  2. Financial expenditure: the expenditures for repaying the principal and interest on domestic and foreign borrowings of 1993 and prior years and infrastructure construction expenditure arranged upon foreign borrowings are excluded from financial expenditure and no longer taken as financial expenditure. The fiscal prices subsidies of 1978-1985 are changed from eat-up part of financial revenue into financial expenditure. Accordingly, debt expenditure is excluded from 'the national financial expenditure of projects' and 'the national financial expenditure of expense categories'; Infrastructure construction expenditure arranged upon foreign borrowings are excluded from 'the national financial expenditure of projects'; Adjustments in related items in 'the national financial expenditure of expense categories' are also made that  expenditure for repaying interest on domestic and foreign  borrowings is incorporated into financial expenditure since the year of 2000.
  3. Revenue and expenditure of central and local finance: in accordance with above adjustments in financial revenue and financial expenditure, adjustments are also made in revenue and expenditure of central finance and some years of local finance. However, 'the total amount of revenue and expenditure of central and local finance' chart, which reflects the revenue and expenditure of central and local financial institutions based on the financial system division of the year, is not adjusted accordingly due to the change in financial system and the shifts enterprise relationship of administrative subordination. In addition, hand-in accounts, subsidy and tax rebates still exist between central and local finance. Consequently 'the total amount of revenue and expenditure of central and local finance' chart doesn't present a precise reflection of financial situation of all administrative levels.

Statistical system of extra-budgetary fund has been established since 1982. Extra-budgetary revenue and expenditure items have changed a few times. In the light of the newly implemented financial general rule and accounting standard in 1993, the division of extra-budgetary revenue and expenditure underwent another major adjustment that fund for replacements and technical innovations and fund for major overhaul of state-operated enterprises are no longer considered extra-budgetary fund. To this end, extra-budgetary revenue and expenditure of 1992 and prior and 1993 and subsequent are not comparable.