Ministry of Finance (MOF)

Address: 3 Sanlihe Nansanxiang, Xicheng Qu, Beijing 100820

| Phone: 86-10-6855-1114

Website: www.mof.gov.cn

MOF plays a macroeconomic role in the reform of state-owned enterprises (SOE) and other public institutions financial management systems. The ministrys primary goals
include streamlining and reducing mounting financial and taxation sector debts in cooperation with the State Asset Supervision and Administration Commission, State
Administration of Taxation, State Auditing Administration, and National Development and Reform Commission. MOF oversees the issuance of government bonds, negotiates
loans provided by foreign governments, drafts management regulations for public assets, and is responsible for the non-governmental auditing sector. MOF also has
responsibility for the State Council's Tariff Regulations Committee and management of some SOE assets.

Minister

Lou Jiwei

Vice Ministers and Vice Minister-Level Officials

Zhang Shaochun
(Vice Minister)

Liu Jianhua
(Head of Discipline Inspection)

Zhu Guangyao
(Vice Minister)

Responsible for the Tax Administration Bureau and

the Budget and National Defense departments.

Responsible for the Party Committee, MOF Inspection

Work Leading Group Office, and the Inspection
Bureau.

Responsible for the Tariffs and Office of External

Economic Cooperation departments; China State
Finance magazine and China Financial and Economic
News; and assists Minister Lou in the US-China
Strategic and Economic Dialogue (S&ED), the
British-China Economic and Financial Dialogue, and
the State Council Customs Tariff Commission.

Liu Kun
(Vice Minister)

Wang Baoan
(Vice Minister)

Responsible for the Treasury, Economic Construction,

and Supervision departments and MOF local
inspection and investment evaluation centers.

Responsible for the General Financial Affairs and

Social Security departments; Institute of Fiscal
Science; and the China Financial Publishing Media
Group.

2013, The US-China Business Council

Assistant Ministers
Liu Hongwei

Hu Jinglin

Yu Weiping

Responsible for the Treaty and Law and Enterprise

departments; Cadres Education Center; MOF Service
Center; Chinese Accounting Correspondence School;
and China Appraisal Society.

Responsible for the General Office, Agriculture, State

Agricultural Development Office, and Bureau of Retired
Officials; Information Network Center; China Finance
and Taxation Museum; and assists Minister Lou with
the Comprehensive Rural Reform Working Group.

Responsible for the Education, Science, and Culture

and Accounting departments; Central Cultural
Enterprises and State-Owned Assets Supervision and
Leading Group Office; MOF Accounting Qualification
Evaluation Center; Beijing, Shanghai, and Xiamen
National Accounting Institutes; and assists Minister
Lou with the Personnel and Education Department.

Zheng Xiaosong
Responsible for the International department; China
Clean Development Fund Management Center; and
the Beijing division of the Asia-Pacific Finance and
Development Center.

Department Responsibilities*
General Office ()

General Financial Affairs ()

Treaty and Law ()

Conducts routine operations, such as drafting reports,

issuing press releases, and completing administrative
work.

Researches macroeconomic situation and puts forward

recommendations; researches income distribution
policies; manages housing reform budget and tax
revenue system; and provides assistance and
participates in management of financial reform
programs.

Researches and proposes changes for the

construction of tax laws and regulations; formulates tax
law planning; organizes and assists in drafting financial
laws and reports; examines financial reporting, tax
revenue, and national asset management laws; and
represents the ministry in lawsuits.

Tax Policy ()

Tariffs ()

Budget ()

Researches domestic and foreign tax policies and

drafts implementation programs; proposes tax
structure reforms; participates in foreign tax
negotiations; and drafts international tax agreements.

Researches and proposes tariff and import tax policies;

drafts tariff agreement programs and participates in
related agreements; studies and proposes construction
of special tax levies; and conducts routine work for the
State Councils Office of Customs Tariff Commission.

Drafts financial system and budget management

systems; conducts medium and long-term financial
planning; studies and proposes annual budget
oversight; and investigates and reports on national
budget implementation conditions.

State Treasury ()

National Defense ()

Proposes and drafts national treasury management

systems and financial budget and administrative
accounting systems; investigates national budget
implementation conditions; collects central, area, and
nationwide financial accounting reports; and drafts and
supervises implementation of government purchasing
policies.

Undertakes national defense-related finance duties.

Administrative and Law Enforcement

()

2013, The US-China Business Council

Responsible for the funding for financial management

expenses; researches and proposes standards for
administrative funding expenses; manages foreign
financial aid; and supervises and tracks
implementation of department budgeting.

Education, Science, and Culture ()

Economic Construction ()

Agriculture ()

Undertakes work related to education, technology, and

culture; draws up financial policies for news,
publishing, and film industries; manages
financial-related work for cultural enterprises; and
undertakes work on state-owned assets and
institutions.

Researches and formulates financial investment

policies; manages national goods and materials
asset-reserve policy subsidies; manages research and
related funding; and manages the use and conditions
of inspections of central assets.

Researches agricultural financial policies; participates

in agricultural industry planning; formulates agricultural
asset-management methods and industry financial
management systems; and supervises implementation
of department budgets.

Social Security ()

Enterprise ()

Finance ()

Researches and formulates national social security

regulations and policies; presents draft budgets for
social security programs; and evaluates and gives
advice on financial spending standards, annual
budgets, and special fund management.

Researches and draws up policies on financial policy in

support of enterprise reform and development;
manages budgeting process of state-owned assets;
and promotes central-level policies in support of
finance-related industries.

Coordinates work related to monetary and fiscal policy,

state-owned assets, and financial institutions;
develops management systems and supervises
implementation of securities, insurance, and other
non-bank financial institutions; responsible for foreign
debt and foreign government loans; implements and
supervises export credit insurance and related policies.

International ()

Office of External Economic Cooperation (

Accounting ()

Researches international financial policy and provides

recommendations; responsible for Chinas loans and
participation in the World Bank and Asian
Development Bank; oversees financial work on Hong
Kong, Macau, and Taiwan; supervises personnel
inspection and training.

Manages national accounting; promotes policies to

reform and develop Chinas accounting practices;
strengthen international exchanges related to
accounting; and develops policies related to CPA and
administrative licensing approval and management.

Supervision Bureau ()

State Agricultural Development Office (

)

Formulates financial supervision and inspection

regulations; supervises implementation of tax
regulations and policies; and investigates
finance-related legal infringements.

Chinese Communist Party (CCP) Committee

()
Responsible for MOFs CCP relations.

State Rural Reform Office (

)
Leads the State Councils effort to reform rural
taxation.

Responsible for carrying out financial and economic

dialogues with the international community, particularly
with countries assigned by the State Council.

Formulates and oversees implementation of

agricultural development policies, plans, programs,
funds, and financial management rules.

Personnel and Education ()

Oversees hiring, training, and salary adjustments for
MOF and manages the National Accounting Academy.

Inspection Bureau ()

Bureau of Retired Officials ()

Supervises and enforces MOF compliance with

national regulations and laws.

Handles retired cadre affairs.

Central Cultural Enterprises and State-Owned

Assets Supervision and Leading Group Office
()
Responsible for drafting laws and regulations on
cultural enterprises, and undertakes cadre
management and asset management work.

*Note: Some department information unavailable. Information accurate as of June 2013.

2013, The US-China Business Council