China’s experience in managing off-budget state financial funds and policy suggestions

Abstract

Extra-budgetary funds are a flexible financial tool that supplements the national budget and mobilizes social resources for public sector activities. These funds can be used to support investment in areas requiring encouragement, contributing to economic and social development. However, to ensure effectiveness and transparency, the government must tightly manage extra-budgetary funds, ensuring they align with the country’s economic and social development at each stage. China’s experience in managing these funds can be a valuable lesson for Vietnam as it refines relevant legal policies.

(Received 15 July 2024; published 15 December 2024)