The lack of essential fiscal information available to the public is posing a serous threat to China's bid for a harmonious society and is to blame for the widespread corruption, a Chinese scholar of public policy said Monday.

"The transparency level of our fiscal system is very low, even by the lowest standard," said Jiang Hong, a researcher from the Shanghai University of Finance and Economics, told the ongoing annual session of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), a top political advisory body.

Embezzlement and abuse of public funds, ill-conceived government-funded projects, extravagant government spending, graft, power-for-money deals...are all related to the lack of fiscal transparency and public supervision,said Jiang, a political advisor.

"People's right to know should not be reduced to only know what the government wants them to do, but to know what the government is doing," Jiang said.

The government usually provides a only partial or general picture of fiscal information, or releases the information too late, said Jiang.

"It's imperative for us to ensure fiscal transparency as the country is embarking on a massive economic stimulus plan to curb economic downturn amid global financial crisis," he said.

Hu proposed to revise the existing Budget Law, which came into effect in 1995, to provide a legal basis for fiscal transparency.

"We should state in the law that to release fiscal information should be a principle, and not to release it is exceptional," he said.

The law should clarify the date and the way to release the information and ensure the information released was detailed enough.

"The law should also stipulate penalties on those who violate the rules," he said.

China's Provisions on the Disclosure of Government Information, which took effect on May 1 last year, was designed to protect the right of the public to access government information. But Jiang said the transparency of fiscal information is still far behind people's wish.

"What we need now is the courage and determination to effect systematic reforms and uphold the spirit of being responsible to the people," he said.

(Xinhua News Agency March 9, 2009)