The Ministry of Finance (MOF) is a cabinet-level constituent department of the State Council responsible for China’s fiscal policy, national budget management, and tax legislation. Established in 1949, it functions as the central treasury, managing state revenues, government expenditure, and the issuance of domestic and external debt. Unlike its counterparts in some Western nations, the MOF shares macroeconomic management with the National Development and Reform Commission (NDRC) and state-owned industry oversight with the State-owned Assets Supervision and Administration Commission (SASAC). A critical role of the MOF is serving as the ultimate shareholder and supervisor of major state-run financial conglomerates.