International Study on Local Finance of other Countries and the Revelation to China

The financial system of china is similar to that of most developed countries,which is a kind of financial federalism inessence.This paper reviews the local financial revenue and expenditures experiences of other countries,and offer some revelations.The rights among different governments need to be plotted out distinctly.It is necessary to endow the lower finances with taxing rights to perfect the financial system.It is an important measure to perfect the transferring system in order to balance the local financial resources.And it is the reform direction of local financial system to elevate the authority and democracy of financial budget system.