ABSTRACT
This chapter deals with the following problems: the structure and classification of budgetary revenues and expenditures, and the financial relationship between the central and local governments. A discussion of these problems will help to clarify the concept and coverage of Chinese budgetary data. The credit was extended in the form of machinery and equipment. Data on revenue from credit and insurance operations are grouped into three categories: domestic bonds, foreign loans, and insurance operations. Amortization schedules for industry were issued in December, 1950, by the Ministry of Finance. The exchange rates between Chinese people's currency and currencies of other countries are fixed by the state and announced by the People's Bank of China. Data on budgetary expenditures given in the budget messages of the central and the local governments are usually classified into several main functional groups, with subfunctions shown for some of the main groups.
