（英文版）
作者：Roy W. Bahl
关键字：Local Public Finance
概要：Is China one of the world's most decentralized countries, or one of the most centralized? In fact, it is both. On the one hand, 70 percent of all government expenditures pass through the subnational government budgets. On the other hand, subnational governments have no independent (formal) taxing powers. The question that might be raised is whether the longer term intention is to develop a system of local public finance that would give subprovincial governments more fiscal discretion, or whether some other structure is invisaged. Either way, what is the reform package that would move China toward its goal.
