The Ministry of Finance's Jiangsu Supervision Bureau has highlighted preventing and defusing debt risks as a key focus, mandating that no new hidden debt be incurred as an 'iron rule' and pushing for the reform and transformation of financing platforms. It also dynamically monitors local fiscal operations to safeguard the bottom line of 'three guarantees' at the grassroots level.
Regarding fund oversight, the Bureau closely tracks the use of ultra-long-term special government bonds and additional government bonds, following the principle that 'funds follow projects and projects follow planning,' and promotes routine budget execution supervision. It also reinforces scientific fiscal management through performance evaluations to support the implementation of major central government decisions.
To consolidate supervisory forces, the Jiangsu Bureau led the signing of a memorandum of cooperation with seven departments, including the Provincial Department of Finance, Provincial Tax Service, and Nanjing Customs, establishing mechanisms for information sharing and coordinated supervision. It also signed an accounting supervision cooperation memorandum with the Jiangsu Securities Regulatory Bureau and deepened joint management with the Provincial Department of Finance.
On the technical front, the Bureau is exploring the application of artificial intelligence in fiscal supervision, building intelligent early warning models on top of its self-developed monitoring systems to enhance the identification of risks and suspicious cases.
The Jiangsu Bureau is also working to perfect a closed-loop process of 'problem discovery, rectification supervision, accountability, and management optimization.' It holds regular seminars to interpret policies, conducts on-site supervision and 'look-back' reviews of identified issues, and promotes coordination with disciplinary inspection and supervision agencies in key areas such as local debt and grassroots 'three guarantees.'