Asia Society Policy Institute

MOF implements decisions and policies of the Communist Party of China’s (CCP) Central Committee on public finance. It uses various departments' proposals to determine the budget allocation for foreign aid programs.

MOF must approve medium- and long-term export credit insurance for projects over $30 million but under the specific limit for each BRI host country. For projects over the host country limit but under $100 million, MOF must consult the Ministry of Foreign Affairs (MFA) and Ministry of Commerce (MOFCOM) before the State Council makes a decision on the medium- and long-term export credit insurance.

Adapted from Ministry of Finance (MOF), “Main Functions,” accessed in 2022, View the Website.