Beijing Municipal Bureau of Finance has the following functions:
1. Draft mid- and long-term financial plans in line with state laws, rules, regulations and policies and the economic and social development strategy of the city; participate in making major economic decisions and policies, study and put forward proposals on regulating economic operations through financial means, taxation and subsidies and balancing the allocation of financial resources within the city; formulate and implement policies on distribution of financial resources between the municipality and its districts and counties and between the state and enterprises.
2. Study and formulate rules and regulations on fiscal, financial and accounting management and supervise their implementation; manage loans from foreign governments and international financial organizations; study the state of government liabilities and work out countermeasures for the government to mitigate liabilities risk.
3. Draft annual budget and end-of-the-year final accounts and organize their implementation; report budget and its implementation to the Municipal People's Congress, and final accounts to the Standing Committee of the Municipal People's Congress as entrusted by the Municipal Government; manage financial revenue, funds outside the budget and special financial accounts; work out regulations on the management of lottery tickets and plans for their issuance, and monitor the issuance of lottery tickets; manage relevant government funds; work out plans on financial and tax revenue of the city.
4. Manage public expenditures of the city; manage in-budget non-trade foreign exchange of administrative institutions, public service units and NGOs; formulate expenditure standards and policies; work out financial rules for infrastructure construction.
5. Handle and supervise financial expenditures on economic development, financial appropriations for investment projects, financial funds for potential-tapping and renovation and science and technology expenditure; carry out work on the integrated development of agriculture.
6. Confirm, clarify and register the ownership of state-owned assets of administrative and public service units; guide and supervise asset evaluation.
7. Draft and implement government procurement policies of the city; guide government procurement work and rules on the number of automobiles for government, party organs and public service units operating on financial appropriations.
8. Manage financial expenditures on social security; implement financial management policies on social security funds; organize financial supervision over the use of social security funds.
9. Manage accounting work of the city, draft accounting rules and regulations and supervise their implementation; supervise and inspect the implementation of government budget, accounting regulations of administrative and public service units and different sectors; organize and guide the designation of accountants; guide and supervise the work of certified accountants and accounting firms; guide and manage auditing work.
10. Supervise the enforcement of financial and taxation guidelines, policies, laws and regulations; detect and report major problems in the management of financial revenue and expenditure; study and put forward policy proposals on ways to improve financial management of the city.
11. Formulate scientific research and education on finance programs; organize the training of financial professionals; work on financial information and publicity.
12. Undertake other duties assigned by the Beijing Municipal Government.