|Progress Toward Outcome
Work in progress toward project outcome.
Consultations with the PRC Ministry of Finance were held during the inception and midterm on the directions of the studies and their impact on PRC's fiscal and taxation policy framework; as well as during the final workshop on policy recommendations for fiscal and tax reforms.
The outputs of the studies provided policy recommendations for the PRC's 13th Five Year Plan preparation. The recommendations formed part of ADB's dialogue with the PRC Government in October 2014, to help the nation transition to a high-income country. These recommendations were discussed ahead of the formulation of the PRC's 13th Five-Year Plan, 2016 2020.
|Status of Implementation Progress (Outputs, Activities, and Issues)
1. Consultants were fielded in August 2013. Draft inception report was submitted on 13 September 2013. Midterm reports were submitted on 10 March 2014. Final report was submitted in September 2014.
2. An inception workshop was conducted on 22 September 2013 in Beijing with the participation of 8 high level officials from the Ministry of Finance and 5 ADB staff. The Directors General of the Policy and Fiscal Affairs Department and International Department, Ministry of Finance opened the workshop together with the Director General, East Asia Department, ADB. Five eminent Chinese experts on fiscal policy led the fruitful discusions with the six consultants from the Research Institute of Fiscal Science and the participants. The discussions focused on the obejctive, framework, scope, and timing of the study on public finance development strategy for PRC.
4. The midterm workshop was held on 19 March 2014 in Beijing, with the participation of five high ranking officials from the Ministry of Finance, led by the Deputy Director General of Policy and Fiscal Affairs Dept.; Deputy Director General of International Dept.; Director of International Dept.; Deputy Director of Policy and Fiscal Affairs Dept.; and the Officer from the TA Division, International Dept. Seven ADB staff contributed to the discussions. Five fiscal and taxation Chinese experts and five consultants provided their experts' opinion and thinking on the issues at hand while thirteen team members from the Research Institute for Fiscal Science joined the discusssion. The discussion focused on the function and optimization of public finance in the PRC; taxation and tax administration reform; and optimization of fiscal revenues.
5. A study visit of 6 PRC Ministry of Finance officials to the Republic of Korea and Hong Kong, China was conducted from 24-31 August 2014 to examine the fiscal policy reform experience of these two economies and provide best practice suggestions to the PRC. The visit was valuable to the PRC Ministry of Finance as it provided insights into the basic conditions and characteristics of the fiscal and taxation management systems of these two countries and their implications for PRC.
6. The TA final review workshop was held on 23 September 2014 in Beijing, with the participation of 6 high-level officials from the Ministry of Finance, 1 international expert, 6 PRC experts, 17 researchers and policy experts and 3 ADB officials. The workshop focused on key fiscal policy recommendations for the PRC's 13th Five-Year Plan.