Improving the Fiscal Relationship between the Central and Local Governments to Tap Their Initiative

摘要

The Fourth Plenary Session of the 19th Central Committee of the Communist Party of China(CPC)adopted the Decision on Major Issues Concerning Upholding and Improving the System of Socialism with Chinese Characteristics and Advancing the Modernization of China’s System and Capacity for Governance(hereinafter referred to as the“Decision”).According to the Decision,the institutions and mechanisms that mobilize central and local authorities should be further optimized.