Key practical points:
• Each government prepares an annual budget approved by the relevant people's congress.
• Spending must stay within the approved budget, without unauthorised excess.
• Local government borrowing is restricted and done only by issuing bonds within centrally set limits.
• Budgets and final accounts are published to enhance transparency.
• There are oversight and audit mechanisms and accountability for any illegal diversion or use of funds.
🏢 Company setup
Budget Law · Yalla China
中华人民共和国预算法 / Budget Law
Enacted: 1994-03-22 ✅ Effective: 2015-01-01
📝 Overview
A law governing the drafting, approval and execution of government budgets at all levels in China, and the control of public spending and local borrowing. It strengthens fiscal transparency and legislative oversight of the budget.
This is general information only, not legal advice. For your specific case, consult a licensed lawyer.
📜 The law text / key provisions
💬 Practical reading
💬 This is a general reading/opinion for orientation — not the official legal text nor legal advice.
This law is key to understanding how public funds and government support that your business might benefit from are spent. Fiscal transparency helps you plan projects tied to government funding. General orientation, not legal advice.
📎 Official source
npc.gov.cn
🕒 Updated: 16 March 2026