Main Responsibilities

The Guangming District Finance Bureau is an executive agency under the Guangming District Government. It also functions as the district's State-owned Assets Supervision and Administration Bureau (SASAC) and Collective Assets Management Bureau. Its primary duties include:

1. Implement national, provincial, and municipal laws, policies, and regulations on fiscal, taxation, and accounting management, including management of public institution assets and government procurement. Draft district fiscal and tax policies and plans, as well as budget management systems, and organize their implementation upon approval.

2. Manage district fiscal revenue and expenditure. Prepare draft annual budgets and revisions for the district government, oversee overall budget execution, and administer various local fiscal revenues. Take the lead in reporting on the management of all types of State-owned assets in the district to the district People's Congress and higher authorities. Supervise State-owned assets of administrative and public institutions, fiscal receipts, and confiscated materials. Formulate the scope and general standards for budgetary expenditures of administrative and public institutions, review and approve their budgets and final accounts, and oversee their financial activities.

3. Formulate and organize the implementation of local treasury management systems. Coordinate and allocate district-level fiscal funds. Be responsible for matters related to the district government's investment guidance funds in accordance with regulations.

4. Coordinate and advance budget performance management. Supervise government procurement activities.

5. Manage local government debt. Administer loans and grants to the district from international financial institutions and foreign governments in line with regulations. Manage non-trade, non-operational foreign exchange purchases by administrative and public institutions.

6. Supervise accounting work across the district. Assist higher-level financial departments in overseeing certified public accounting and asset appraisal industries.

7. Organize the reviews of project settlements and final accounts for district-funded projects; conduct investigations into the use of district fiscal funds; and approve final financial accounts upon project completion.

8. Lead talent development within the fiscal system.

9. Perform the duties of a capital contributor in accordance with the authorization of the district government, the Company Law of the People's Republic of China, the Law on the State-Owned Assets of Enterprises of the People's Republic of China, and relevant district government regulations. Implement relevant laws and regulations on the administration of State-owned assets. Formulate regulatory systems and measures for the oversight of operational State-owned assets, and implement them upon approval.

10. Provide guidance on Party building in enterprises under the bureau's supervision.

11. Guide and supervise these enterprises to support urban development and safeguard residents' livelihoods in alignment with the district's strategic objectives. Formulate key annual tasks and assessment criteria for them, and urge them to fulfill their social responsibility.

12. Oversee preservation and appreciation of State-owned assets in supervised enterprises. Establish and improve an indicator system and assessment standards for asset value maintenance and appreciation; monitor asset performance through budget control, equity supervision, auditing, and inspections, in order to safeguard the rights and interests of the State as capital contributor.

13. Coordinate and guide the reforms of State-owned enterprises under the district's supervision. Conduct research on the State-owned assets and enterprise management system and provide recommendations on reform and development. Develop reform and development plans for supervised enterprises; advance reform and restructuring and promote the strategic adjustment of the layout and structure of the State-owned economy.

14. Be responsible for defining, registering, adjusting, auditing, supervising, and appraising State-owned property rights in supervised enterprises. Supervise and regulate the transactions of State-owned property rights; review major matters such as business strategies, investment plans, transfers of property rights, State-owned equity management, and significant asset disposals of supervised enterprises. Oversee safety production responsibilities.

15. Within the authority of cadre management, be responsible for building leadership teams, developing talent, and cultivating reserve personnel in supervised enterprises. Guide and promote the improvement of a modern State-owned enterprise system with Chinese characteristics. Enhance corporate governance by strengthening the boards of directors and supervisory committees, implementing director and supervisor reporting systems, and establishing clear responsibilities, coordinated operations, and effective checks and balances.

16. Improve the selection and appointment mechanisms for enterprise executives in line with the requirements of modern corporate governance. Propose appointments or removals of leaders in supervised enterprises through legal procedures. Be responsible for appointing or recommending directors, supervisors, and chief financial officers to these enterprises. Conduct annual and term-based assessments, and administer rewards and penalties.

17. Participate in the formulation of management systems and measures related to the district's State-owned capital operation budget. In accordance with relevant regulations, be responsible for the preparation and execution of State-owned capital operation budgets and final accounts. Organize comprehensive budget management in supervised enterprises and oversee the submission of State capital returns.

18. Manage income distribution in supervised enterprises. Draft and implement guiding opinions on income distribution reform. Regulate the income distribution and official consumption of enterprise executives, and improve incentive and restraint mechanisms for enterprise leaders.

19. Enforce national, provincial and municipal laws, regulations and policies related to collective asset management. Draft and implement collective asset management systems.

20. Be responsible for the macro-level management and guidance of the collective economy. Conduct policy research, formulate relevant systems, and provide guidance on the reform, development, and regulation of community stock companies.

21. Coordinate and establish supervision and management platforms for community stock companies, including asset registration and financial accounting; enforce regulatory measures and oversee platform operations and information management.

22. Guide, coordinate and support the development of community stock companies to achieve economic and social benefits.

23. Complete other tasks assigned by the district Party committee, district government, and higher authorities.

24. Functional transformation: The district finance bureau shall further deepen reforms of the budget management system, innovate fiscal management, and promote full accountability among all departments across the stages of budget preparation, execution, and oversight. It shall work to establish a comprehensive, standardized, transparent,  scientifically grounded, and well-constrained budget system. Full implementation of budget performance management will be accelerated to build a comprehensive, all-process, and all-encompassing performance management framework, improve the efficiency of fiscal fund allocation and utilization, and promote sustainable fiscal development.