Operation efficiency of the public sector can be enhanced, and Government's assets are better monitored. In particular, non-cash intangible assets, including land and real estate, can also be clearly recorded. There will be better disclosure of long-term commitments on the part of the Government, such as Pension payments. I believe this improvement will have significant impact on the resources management culture of the civil service, and it represents a step forward in the civil service reforms. I welcome and appreciate such a determined move.
Accrual accounting has certain international accounting standards.
I hope the Government can have better communications with the accountancy sector, so that the civil servants can quickly grasp the techniques of accrual accounting, and use it as an important tool for resources management, allowing the system to perform its function to the full. As every one knows, since the beginning of the year, many economic researchers have adjusted downward our GDP growth rate. Global interest rates and share prices are also projected to drop. I suggest that the Government should inform the public as to how the Administration comes up with such an investment return rate, as well as the assumptions involved, so that the skeptics will no longer be obsessed with unfounded accusations, and they can make their own projections as well. Spinning off so as to lighten the Government's financial burden Listing government assets on the stock market is one of my concerns.