ABSTRACT
Public finance and tax system reform has been an extremely important component of China’s overall economic reforms. The main threads of this reform can be seen quite distinctly over the past thirty years of reform and opening up. They proceed from the reforms known in shorthand as “each eating at his own hearth” to the reform described as dividing up or distributing taxes, and they range from setting up a full-scale public revenue system to budgetary reform as guided by the needs of public finance, including setting up a whole system of public finance expenditures.
