FEATURES OF BUDGETARY REGIONAL POLICY: ON THE EXAMPLE OF THE REGIONS OF THE PEOPLE'S REPUBLIC OF CHINA AND THE RUSSIAN FEDERATION

Wang Jianguang

The topic of budgetary regional policy is relevant for many countries, including China and Russia, as it is directly related to the socio-economic development of the regions. The problem of uneven development of regions is also relevant, as it leads to a reduction in economic growth, a deterioration in the quality of life of the population and an increase in social tension. This article examines the features of the budgetary regional policy of China and Russia, in order to identify possible strategies and initiatives that can be adopted by Russia in order to ensure a more even development of the country's regions. The author draws attention to the fact that Russia and China have similarities in the distribution of the budget between regions, including targeted funding and various economic incentives for the development of less developed regions. However, the author notes that China is more successful in its efforts to stimulate migration to less developed regions, while Russia is facing the problem of the outflow of population from less developed regions to more developed ones, which leads to deepening of inequality within the country. The author points out that the adoption of some features of China's regional budgetary policy can lead to the creation of new jobs, improved housing conditions and access to quality services in less developed regions of Russia. This will also lead to a more even distribution of the population, which will help reduce socio-economic inequality between the regions of the Russian Federation. In addition, the author recommends increasing funding for less developed regions and using more effective tools to control and monitor the distribution of the budget between regions.

Keywords:budgetary regional policy; PRC; RF; internal migration; inequality