01871cas a2200241 a 4500 AALejournalIMF018362 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484351109 1018-5941 BD-DhAAL BD-DhAAL Wingender, Philippe. Intergovernmental Fiscal Reform in China / Philippe Wingender. Washington, D.C. : International Monetary Fund, 2018. 1 online resource (32 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students China is the most decentralized country in the world in terms of expenditures shares, with subnational governments responsible for 85 percent of government spending. Limited revenue autonomy and insufficient intergovernmental transfers have led to large unfunded mandates and a build-up of debt outside the budget. The government has recently announced an ambitious intergovernmental fiscal reform, which will increase the role of the central government. Comprehensive reform is needed to improve public service delivery, increase overall social spending levels and reduce regional disparities. Revenue reforms are also necessary to improve efficiency and reduce vulnerabilities from excessive subnational borrowing. These reforms are challenging, but are crucial so that the government can support China's continued development and prosperity. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2018/088 Full text available on IMF http://elibrary.imf.org/view/journals/001/2018/088/001.2018.issue-088-en.xml IMF e-Library