Local Government Implements Cost Budget Performance Management to Improve Transportation Development
In an effort to empower the development of transportation, the Jinan Municipal Transportation Bureau has implemented cost budget performance management. This move comes as part of the municipal government’s efforts to improve the efficiency of budget funds and overall performance.
Similarly, Zaozhuang City has innovatively established the “six major mechanisms” for budget performance management, leading to a significant improvement in the efficiency of budget fund utilization. This initiative aims to streamline budget management and ensure that funds are being used effectively.
Yantai City has also made strides in fiscal expenditure management reform, with the establishment of the “1+5+5” municipal framework system. This reform is a step towards optimizing the allocation of funds and maximizing their impact on municipal development.
Furthermore, the government in Yantai is implementing measures to cut down on ineffective, inefficient, and unnecessary expenses. It is reported that the city will reduce funds for key performance evaluation projects by more than 100 million yuan in 2022.
These initiatives reflect a commitment by local governments to improve financial management and ensure that funds are being used efficiently to benefit the development of their respective regions. As authorities continue to implement cost budget performance management, it is hoped that transportation, fiscal expenditure, and overall development will see significant improvement.