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Presents a circular concerning the development of the central budget and local budgets of China for 1996. Guidelines for development the budget; Basic requirements; Measures adopted by the State Council to address fiscal revenues that have been constantly lower than the growth of the gross national product (GNP) and the proportion of fiscal revenues in the GNP that has constantly fallen; Adjustment of the structure of expenditure.

Presents a circular transmitting the opinions of the Chinese Ministry of Finance concerning the deepening of the two lines for revenues and expenditures reform and further strengthening fiscal management in China. Circumstances of the management of extra-budgetary funds; Opinions on deepening the two lines for revenues and expenditures reform; Issues that require resolving in the course of advancing the reform.

Presents a circular concerning the publication and distribution of the plan for reforming the sharing of income tax revenues in China. Reasons behind the implementation of a reform of the sharing of income tax revenues; Importance of the reform; Guidelines and basic principles of reform; Allocation and use of transferred funds.

Presents a circular concerning the development and issuing of the local government management measures for national debts converted into local loans in China. Assessment and examination of the projects and determination of the scale of the transferred loans; Appropriation, use and repayment of transferred loan funds; Regulations on penalties.

Presents a circular concerning the development of the 1998 central budget and local budgets in China. Guidelines for the development of the budgets; Information on the 1998 fiscal revenue policies; Main points of the 1998 fiscal expenditure policies.

Presents a circular concerning the development of the 1997 central budget and local budgets in China. Guidelines for the development of the budget; Basic requirements; Expenditures that will be focused on.

Presents a circular transmitting the State Administration of Taxation's request for directives concerning regulations relevant to the conscientious implementation of division of work among central and local tax institutions on tax levying and management in China. Failure of some localities to conscientiously implement the regulations; Information on the erroneous practice of implementation by accommodation; Intention of the State Administration of Taxation to revise and perfect the regulations.

Presents a circular on rectifying the policy of first levying and then rebating taxes formulated by local authorities without authorization in China. Effects of the tax reform implemented in 1994; Perseverance in governing the nation by law and exercising government by law; Concentration of the managerial authority over taxes at the central government.

Presents a circular on issues concerning the management systems of local taxation institutions in China. Effects of the implementation of separate taxation institutions in 1994; Notifications made to strengthen leadership over local tax institutions and standardize and perfect the management systems of local tax institutions.

Presents a circular on the adjustment of the ratios of the security stamp taxes shared by the central and local authorities in China. Factors to consider to normalize the securities trading market; Performance of the security exchange markets after the reform.