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In Hubei Province, A Price Regulation Fund Management Approach

Original Language Title: 湖北省价格调节基金管理办法

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Governance of the Capital Adjustment Fund in Northern Lakes

(Adopted by Decree No. 345 of 7 August 2011 by the Government of the Northern Province of the Great Britain and Northern Lakes Region, No. 345 of 1 October 2011)

Article 1, in order to regulate the mobilization, use and management of the Price Adjustment Fund, enhance the Government's power to regulate, stabilize the basic necessities of basic life, guarantee basic life of the population, and develop this approach in line with the relevant provisions of the People's Republic of China price law, the Northern Province of the Lake.

Article II refers to the price adjustment fund referred to in this approach, which refers to the establishment by law of more than the people at the district level to mobilize funds through multiple ways to regulate prices and stabilize the market.

Article 3.

More than the people at the district level should strengthen, in accordance with the law, the unified leadership in the management of the price regulation fund in the current administration area, responsible for the mobilization, management and use of the current price adjustment fund.

The Government's price authorities at the district level are the competent authority of the price-administrative Fund responsible for the planned arrangements for the price regulation fund; local tax authorities are responsible for the collection, distributing of the price-relevant funds; financial sector is responsible for the management and supervision of the funds; and other relevant departments are able, within their respective responsibilities, to coordinate the management of the price adjustment fund.

Article IV The main sources of the price adjustment fund include:

(i) 2 per cent of the administrative fees for inclusion in local general budget income;

(ii) Execution of important goods and services for government price management, resulting in an increase in value income generated by special price policies, and the use of gas plus value income for the post-referral balance;

(iii) Social levy;

(iv) Funded by other means agreed by the provincial government.

Article 5 imposes a price adjustment fund for society, which is applied by 1 per cent of the taxpayers' actual paying value tax, consumer taxes, operating taxes. Its scope is:

(i) Recreation;

(ii) The hotel and catering industry;

(iii) Tobacco, alcohol and dowry industries;

(iv) Important goods and services projects such as oil, electricity, fuel, heat and communications.

Where necessary, the provincial governments agree that there can be separate accounts for resource-related products such as phosphate.

Article 6. The price adjustment fund is charged by the same local tax authorities when taxing and is vested in the treasury.

Article 7 quantifies the payment, exemption from the value-added tax, consumption taxes and operating taxes, in accordance with the law, the administrative regulations or the statutory approval authority, while at the same time reducing the payment, distributing the price adjustment fund.

Article 8.

The Government of the province should use the price regulation fund to deal with the price fluctuations triggered by cross-administrative regions or major emergencies within the province.

Article 9. The use of the price adjustment fund shall be subject to monitoring analysis by the price authorities in accordance with the important commodity price situation, the use of programmes by the relevant business sector and approval by the Government of the people at this level.

Article 10. The price regulation units shall be strictly used for the use of the price adjustment fund in accordance with the provisions and shall be reported in a timely manner to the Government's price authorities, the financial sector.

Article 11. The price adjustment fund is earmarked and the end-of-year balance may be transferred to the next year and no unit or individual may be misappropriated, retained and seized.

Article 12. The audit department should strengthen the audit supervision of the collection and use of the price-administered funds by law.

Article 13. The Government's price authorities at the district level should regularly publish the use of the price regulation fund and organize performance assessments.

Article 14. In violation of this approach, laws, regulations and regulations provide for penalties, from their provisions; they are not regulated by the provisions of this approach.

Article 15. The price regulation unit does not use the price adjustment fund in accordance with the prescribed use, which is converted by the Government of the people at this level to the time limit, end the allocation and recover the funds that have been allocated, and is not later rectified, criticized for administrative punishment or administrative disposition by the principal responsible and other direct responsibilities.

The lower-level people's Government does not use the price adjustment fund in accordance with the prescribed use, which is modified by the Government of the High-level People's Government's time limit of accountability, which is still uncorrected, is criticized and administratively taken against the principal responsible and other direct responsibilities.

Article 16 imposes, uses and administers a staff member to perform negligence, abuse of his or her functions, one of the following acts, which is being restructured by the organ responsible for the administrative disposition of the principal and other directly responsible personnel by law; and criminal liability by law:

(i) Removal, interception and intrusion of the price adjustment fund;

(ii) Disastrous consequences for the use of oversight by the price administration fund or the discovery of inappropriate treatment of problems;

(iii) In violation of the provision for self-exclusiveness, relief, removal and price reduction funds.

Article 17

Article 18