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Guiyang City, Call For Price Regulation Fund Management Approach Has Been Used

Original Language Title: 贵阳市价格调节基金征集使用管理办法

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(Summit of Hygiene on 5 February 2006 to consider the adoption of Decree No. 19 of 22 February 2006 by the Government of the Hygiene People, which came into force on 15 April 2006)

Article I, in order to stabilize the overall market price level, regulates the price regulation fund system, promotes economic health development in the socialist market, and develops this approach in line with the provisions of the People's Republic of China price law.
Article II refers to the Government's specific funds for the regulation of important commodity prices, such as the regulation of essential goods.
Article 3. The price adjustment fund shall be consolidated by the Municipal People's Government's Committee for the Adjustment of the Fund.
The Office under the Price Adjustment Fund Management Board is responsible for the day-to-day management of the Facility. The Office of the Price Adjustment Fund Management Board is located in the municipal price administration. The Ministry of Finance, Audit, Tax Administration is involved in the work of the Office.
Article IV is produced, operated within the city's administration, paying value-added taxes, consumption taxes, various types of enterprises, business units, individual business and other units with operating income shall be paid at the monthly price adjustment fund. The payment rate is one 1000 for the sale of income or for the proceeds of business. The monthly proceeds of sale or business income of less than $50 million were paid by US$ 5.
The price adjustment fund also pays the same relief as the annual value-added tax, consumer taxes, operating tax units and products.
Article 5
Where tax administrations are collected, banks should be set up to collect funds, establish accounting books, perform accounting accounts and provide timely, legitimate, accurate and complete accounting information.
Article 6. No unit or person shall be misappropriated and stopped.
The Price Adjustment Fund has introduced the annual pre-calculation system, with the end-of-year balance, which can be rolled over the next year. The advance is prepared by the Office of the Committee for the Management of the Price Adjustment Fund, which is reviewed and approved by the Committee.
Article 7. Scope of the price adjustment fund:
(i) Policy compensation;
(ii) Uncertainty fluctuations in the price of essential goods, such as Pinal food;
(iii) Resistance of dynamic prices for vulnerable groups;
(iv) Support for important commodity reserves;
(v) Government funding for the provision, facilitation of circulation and restructuring;
(vi) Relevant work on other regulatory prices provided by the Government of the city.
Article 8.
Article 9 applies to units using the price adjustment fund, and in principle, the next annual application report should be submitted by the end of November. The application reports should be accompanied by relevant information such as the project programme, the use of the budget plan and the feasibility report.
The Office of the Committee for the Management of the Price Adjustment Fund shall be reviewed by the Committee on Price Adjustment Fund Management in the context of market development trends and annual income and expenditure plans, in conjunction with market development trends and year-of-payments plans.
Article 10 units using the Price Adjustment Fund should establish specialized accounting accounts, perform accounting accounts, strictly earmarked for approval purposes, shall not be retained and diverted, and report on the use and effectiveness of project funds to the Office of the Committee on Price Adjustment Funds in accordance with project progress.
Article 11 takes the form of a loan interest, which should be determined on the basis of the actual bank credits in the project investment, the construction cycle or the length of the rehabilitation cycle. The value is conditional on the actual payment of interest.
Article 12. The Office of the Committee for the Management of the Price Adjustment Fund may arrange a proportion of funds from the current year's capital price adjustment fund to the total bank as a cost for management. The collection and payment of management fees charged by the Price Adjustment Fund is governed by the relevant provisions.
Article 13. The Office of the Board of Governors of the Price Adjustment Fund shall conduct pre-use assessments, the use of time-track supervision, the use of post-removal settlement reviews to ensure dedicated funds; strict fiscal use procedures and project funds are subject to a progressive allocation system; adhere to the principle of “exclusiveness of the former paragraph and non-appropriation” of funds; and in principle, no new project funds will be organized in principle for the purpose of avoiding financial balances in the project use unit for the year to December.
Article 14. The financial sector undertakes financial supervision of the use of the price adjustment fund and participates in pre-conceptions, ex facto inspections and ex post facto oversight of the price-relevant funds.
The audit department conducts regular audits of the performance of the annual budget of the Price Adjustment Fund and performs audit oversight.
Article 15. The National Government's Committee for the Management of the Fund shall grant recognition or incentives to units and individuals contributing to the work of the price-administering funds.
Article 16, in violation of this approach, provides that the price adjustment fund shall not be paid at the time and shall be paid by the tax authorities. The municipal price administration is subject to a fine of up to $50 million.
Article 17 Staff members who collect, manage the price adjustment fund do not perform their duties or abuse their power to be privately disposed of by their units or superior authorities; and constitute criminal responsibility by the judiciary.
Article 18
Article 19, which was implemented effective 15 April 2006. The former Hygiene Price Adjustment Fund (HLF) scheme was repealed.