Improving Fiscal Transparency in Government Comprehensive Financial Report Reform: How fiscal transparency should be in China

As fiscal transparency in China is still waiting to be improved, the Comprehensive Financial Report (CFR) Reform started from 2014 would be one of the best opportunities for it. This paper argues about what is fiscal transparency and what we should do to improve it in the background of CFR. By distinguish the differences between the concepts of fiscal transparency and budget transparency, this paper strengthened that fiscal transparency means open not only budget information, but also fiscal polices' making process, fiscal polices' performance, etc. Then the author discussed how the CFR could help with disclosing those information to the public, and that the effort to improve fiscal transparency could make the CFR more completed. The suggestions are about what kind of information should be opened, how to make it easy to get all the information, a set of indicators and an internationally comparable fiscal transparency index should be formulated.