Ministry of Finance (China)

Ministry of Finance of the People's Republic of China

中华人民共和国财政部 Zhōnghuá Rénmín Gònghéguó Cáizhèngbù
Agency overview
Formed	1949; 75 years ago (1949)
Type	Constituent Department of the State Council (cabinet-level executive department)
Jurisdiction	Government of China
Headquarters	Beijing
Minister responsible	Lan Fo'an, Minister of Finance
Deputy Ministers responsible	Liao Min Zhu Zhongming Wang Dongwei
Agency executives	Yang Guozhong, Leader of Discipline and Inspection & Supervision Team Liu Wei, Chairman of National Council for Social Security Fund
Parent agency	State Council
Website	www.mof.gov.cn

The Ministry of Finance of the People's Republic of China is the constituent department of the State Council of the People's Republic of China which administers macroeconomic policies and the annual budget. It also handles fiscal policy, economic regulations and government expenditure for the state. The ministry also records and publishes annual macroeconomic data on China's economy. This includes information such as previous economic growth rates in China, central government debt and borrowing and many other indicators regarding the economy of mainland China.

The Ministry of Finance's remit is smaller than its counterparts in many other states. Macroeconomic management is primarily handled by the National Development and Reform Commission (NDRC). State-owned industries are the responsibility of the State-owned Assets Supervision and Administration Commission, and there are separate regulators for banking, insurance and securities. It also does not handle regulation of the money markets or interest rates. These, together with other aspects of monetary policy, are governed by the People's Bank of China (PBC), mainland China's central bank. The Ministry, NDRC and PBC are equal in status, with their political heads all sitting on the State Council.