Accounting for the public sector in the People’s Republic of China is termed budgetary accounting. It is designed to record, report, and supervise the implementation of the state budget and to provide information for budgetary control. China is a socialist country whose economy is characterized by public ownership. The budget system bears some unique features that have a significant impact on budgetary accounting. An understanding of the public finance and budget system is necessary before going into accounting issues.

Issues and Country Studies
Editor: A. Premchand