Core Viewpoint - The article highlights the significant achievements and developments of the People's Bank of China (PBOC) in managing the national treasury over the past 40 years, emphasizing the importance of legal frameworks, organizational structures, technological advancements, and service improvements in supporting economic and social development. Group 1: Achievements in Treasury Management - The PBOC has continuously innovated in treasury systems, technology, and management, enhancing the treasury's role in budget execution and contributing positively to economic and governance modernization [2][4][6]. - A comprehensive legal framework has been established, including the "National Treasury Regulations" and other laws, which solidify the PBOC's role in treasury management [2][3]. - The PBOC has developed a five-tier treasury organizational system, with 4,271 treasury offices established nationwide, ensuring effective management and oversight [3]. Group 2: Technological Advancements - The PBOC has built a modern treasury information technology platform, transitioning from manual to automated processes, significantly improving budget execution efficiency [4][6]. - The integration of new technologies such as artificial intelligence and big data into treasury operations has enhanced data sharing and operational efficiency [4][6]. Group 3: Service to Government and Society - The treasury has established a unified accounting system and standardized processes, with budget funds processed exceeding 100 trillion yuan by 2021, reflecting a 10.6% annual growth since the 18th National Congress [5]. - The PBOC has effectively managed cash flow and supported major tax reforms, facilitating over 2.4 trillion yuan in VAT refunds in 2022 alone [6][7]. Group 4: Strengthening Supervision and Governance - The PBOC has enhanced its supervisory framework, ensuring compliance and risk management through a collaborative approach with relevant departments [8][9]. - Continuous improvement in legal and regulatory frameworks has been emphasized to adapt to new business models and ensure effective treasury operations [10][11]. Group 5: Future Directions - The PBOC aims to deepen the integration of treasury management with national economic policies, focusing on high-quality development and modernization of the treasury system [14][18]. - Emphasis on technological empowerment and legal frameworks will be crucial for enhancing treasury capabilities and meeting public service demands [16][17].

Core Viewpoint - The article highlights the significant achievements and developments of the People's Bank of China (PBOC) in managing the national treasury over the past 40 years, emphasizing its role in supporting economic and social development, enhancing governance, and improving public service efficiency [1][2][3]. Group 1: Achievements in Treasury Management - The legal framework for treasury management has been continuously improved, establishing a solid legal basis for the PBOC's role in treasury management through various laws and regulations [2][3]. - A comprehensive five-level treasury organizational system has been established, with a total of 4,271 treasury offices set up across the country, enhancing the organizational support for treasury management [3]. - The treasury's information technology system has matured, transitioning from manual to automated processes, significantly improving budget execution efficiency and service levels [4]. Group 2: Treasury Services and Support - The treasury has effectively supported government budget execution, with the scale of budget funds processed through the treasury surpassing 100 trillion yuan in 2021, reflecting an annual growth rate of 10.6% since the 18th National Congress [5]. - The treasury has played a crucial role in implementing major tax reforms and managing cash flow, with significant amounts of funds being managed and returned to businesses to alleviate financial burdens [6][7]. - The treasury's service capabilities for public welfare have been significantly enhanced, with innovative tax refund processes and electronic payment systems improving taxpayer experience [8]. Group 3: Strengthening Supervision and Governance - The PBOC has strengthened its supervisory framework for treasury management, ensuring compliance and risk prevention through various oversight mechanisms [9]. - The article emphasizes the importance of adhering to the principles of party leadership and legal governance in treasury management, ensuring that the treasury operates within a legal framework [10][11]. Group 4: Future Directions and Innovations - The PBOC aims to deepen the integration of technology in treasury operations, enhancing service capabilities through advanced information systems and financial technologies [14][17]. - The focus will be on improving public service quality and responsiveness to citizen needs, ensuring that treasury operations align with the expectations of the public [19]. - The PBOC plans to continue its role in supporting national reforms and economic development, emphasizing the importance of a coordinated approach to fiscal and monetary policies [20].