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Ministry of Finance (MOF) (财政部)
Practical Law UK Glossary 5-530-5828 (Approx. 2 pages)
Glossary
Ministry of Finance (MOF) (财政部)
The central government ministry that:
- Drafts fiscal and taxation policies.
- Administers the state's budget.
- Manages government revenues.
- Manages government and state-owned enterprise (SOE) assets (together with the State-owned Assets Supervision and Administration Commission (SASAC)).
- Supervises government procurement procedures.
- Regulates the accounting profession.
The MOF has counterpart authorities at each government level (that is, provincial, municipal, and municipal district level (or county and prefecture, in rural areas).
(See MOF website.)