Video blog: World Bank Works with China’s Hunan Province to Improve Fiscal Management

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00:00 Good afternoon.

00:01 I'm here in Changsha,

00:02 the capital of Hunan province,

00:04 and I'm in Yuelu Academy,

00:06 which is one of the oldest universities in the world,

00:08 founded in 976 AD.

00:12 He is a sign

00:14 that in Chinese means,

00:17 which means seek truth from fact.

00:19 That's a good motto for the way we've tried to

00:21 collaborate with Hunan Province in the last few years.

00:24 Hunan Province was the first province

00:26 to do a development finance development policy

00:29 to help improve the transparency of fiscal management.

00:33 And

00:34 as a result of the analysis and the work we've done with Hunan,

00:37 they moved from a fragmented to a more unified budget,

00:41 from ad hoc

00:42 expenditure and investment planning to medium term budget plans,

00:46 and from opaque budgets where no one knew how much debt

00:49 there was and how money was spent to more transparent budgets.

00:53 And now we're building on this through a program for results operation that

00:57 is Trying to improve fiscal management for

01:00 delivering better services to rural citizens.

01:03 In this P4 hour operation,

01:04 we're adding 1/4 element to the elements

01:07 of planning,

01:08 of transparency,

01:09 and of unification.

01:11 We're adding the element of performance management

01:14 in education and in rural roads management.

01:17 We're going to link the resources that are

01:19 being transferred from the province to the.

01:21 Local governments

01:22 to performance measures and that's going to make sure that Hunan

01:26 can deliver better services without having to spend more money.

01:30 That's a good example of how we're trying to work with China

01:33 in a new cooperation framework.

01:36 We're trying

01:37 to use knowledge,

01:38 and trying to use our experience to help China achieve better results

01:42 because our money matters less and less.

01:44 We need to work.

01:45 With the Chinese system,

01:47 with China's own resources to deliver results.

01:49 And this we're going to try and do in pollution management,

01:52 and climate change,

01:53 and in many other objectives that we share because

01:57 what China does impacts not just China,

01:59 but the rest of the world as well.

02:01 And here in Hunan is a good example of how we can use mechanisms

02:04 to achieve that.

02:06 So we're looking forward to further collaboration with Hunan.

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Good afternoon. I'm here in Changsha, the capital of Hunan province, and I'm in Yuelu Academy, which is one of the oldest universities in the world, founded in 976 AD. He is a sign that in Chinese means, which means seek truth from fact. That's a good motto for the way we've tried to collaborate with Hunan Province in the last few years. Hunan Province was the first province to do a development finance development policy to help improve the transparency of fiscal management. And as a result of the analysis and the work we've done with Hunan, they moved from a fragmented to a more unified budget, from ad hoc expenditure and investment planning to medium term budget plans, and from opaque budgets where no one knew how much debt there was and how money was spent to more transparent budgets. And now we're building on this through a program for results operation that is Trying to improve fiscal management for delivering better services to rural citizens. In this P4 hour operation, we're adding 1/4 element to the elements of planning, of transparency, and of unification. We're adding the element of performance management in education and in rural roads management. We're going to link the resources that are being transferred from the province to the. Local governments to performance measures and that's going to make sure that Hunan can deliver better services without having to spend more money. That's a good example of how we're trying to work with China in a new cooperation framework. We're trying to use knowledge, and trying to use our experience to help China achieve better results because our money matters less and less. We need to work. With the Chinese system, with China's own resources to deliver results. And this we're going to try and do in pollution management, and climate change, and in many other objectives that we share because what China does impacts not just China, but the rest of the world as well. And here in Hunan is a good example of how we can use mechanisms to achieve that. So we're looking forward to further collaboration with Hunan.

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