Emergency Financial System in China after COVID-19 Outbreak

Abstract

China has always had frequent disasters, and unexpected emergency public events often bring great impact to the national economy, so it is very important for the emergency financial management mechanism to effectively respond to. Combining with the emergency financial control measures for the new crown pneumonia epidemic, this paper analyses the imperfections of the current emergency financial control system in China from four aspects: contingency, delineation of fiscal responsibilities among central and local financial departments in the field of emergency management, institutionalization of emergency financial system, supervision and management, and puts forward corresponding suggestions and countermeasures.