This is the first book that traces the evolution of China"s fiscal policy and sums up the experience and lessons of implementing different modes of fiscal policy since the People"s Republic of China was founded in 1949. It also looks ahead to the future trends of China"s fiscal policy. The book analyzes China"s fiscal policy since 1949 with a focus on the period after 1992, elaborates on the functioning mechanism of fiscal policy, and discusses in detail the backgrounds, major measures, and achievements of the moderately tight fiscal policy, proactive fiscal policy, and prudent fiscal policy. It also reviews the experience the Chinese government has accumulated in the process of practicing macro economic control through fiscal instruments, and forecasts the fiscal policy orientation in the years to come.