Regulations on Government Investment
Order of the State Council of the People's Republic of China No.712
April 14, 2019
The Regulations on Government Investment, which have been adopted at the 33rd executive meeting of the State Council on December 5, 2018, are hereby promulgated for implementation as of July 1, 2019.
Li Keqiang, Premier
Regulations on Government Investment
Chapter I General Provisions
Article 1 The Regulations are hereby formulated in order to give full play to the role of government investment, enhance benefits from government investment, regulate government investment behaviors and stimulate the vitality of social investment.
Article 2 For the purpose of the Regulations, government investment refers to the use of the budget funds to carry out fixed-asset investment and construction activities within the territory of China, including new construction, expansion, reconstruction and technical transformation.
Article 3 Government investment funds shall be invested in projects in public fields, such as public welfare services, public infrastructures, agriculture and rural areas, ecological environment protection, major scientific and technological advancements, social management and the state security, in which market cannot effectively allocate resources, primarily non-operating projects.
The State will improve relevant policies and measures, give play to the guiding and driving roles of government investment funds, and encourage the investment of social capital in fields specified in the preceding paragraph.
The State will establish a regular evaluation and adjustment mechanism for government investment scope, and keep optimizing government investment direction and structure.
Article 4 The government investment shall follow the principles of scientific decision making, standardized management, stress on performance, openness and transparency.
Article 5 The government investment shall conform to economic and social development level and financial revenue and expenditure conditions.
The State will consolidate budget constraints for the government investment funds.
......
Order of the State Council of the People's Republic of China No.712
April 14, 2019
The Regulations on Government Investment, which have been adopted at the 33rd executive meeting of the State Council on December 5, 2018, are hereby promulgated for implementation as of July 1, 2019.
Li Keqiang, Premier
Regulations on Government Investment
Chapter I General Provisions
Article 1 The Regulations are hereby formulated in order to give full play to the role of government investment, enhance benefits from government investment, regulate government investment behaviors and stimulate the vitality of social investment.
Article 2 For the purpose of the Regulations, government investment refers to the use of the budget funds to carry out fixed-asset investment and construction activities within the territory of China, including new construction, expansion, reconstruction and technical transformation.
Article 3 Government investment funds shall be invested in projects in public fields, such as public welfare services, public infrastructures, agriculture and rural areas, ecological environment protection, major scientific and technological advancements, social management and the state security, in which market cannot effectively allocate resources, primarily non-operating projects.
The State will improve relevant policies and measures, give play to the guiding and driving roles of government investment funds, and encourage the investment of social capital in fields specified in the preceding paragraph.
The State will establish a regular evaluation and adjustment mechanism for government investment scope, and keep optimizing government investment direction and structure.
Article 4 The government investment shall follow the principles of scientific decision making, standardized management, stress on performance, openness and transparency.
Article 5 The government investment shall conform to economic and social development level and financial revenue and expenditure conditions.
The State will consolidate budget constraints for the government investment funds.
......