For more than a decade, Jin Jiaxin’s work in accounting and finance has been modernising government accounting systems across China’s Guangdong province. She continues to tap her extensive experience across both the private and public sectors within the sprawling southern province, one of China’s key economic engines, to drive forward a series of reforms in digital finance.
After a clutch of finance internships in private enterprises early in her career, Jin moved to the public sector, working in financial departments in Guangdong’s provincial government connected to agriculture, industry and trade. There, she oversaw the distribution of industrial and agricultural subsidies and developed preferential policies for businesses.
‘I’ve developed a more big-picture perspective’
‘Making the shift from the private sector to government over the past decade has taught me how to best utilise our limited public funds in a way that supports the market while also considering the various stakeholders impacted by our policies,’ she says. ‘I’ve developed a more big-picture perspective on things.’
As the financial department’s chief accountant, she played a key role in overhauling Guangdong’s budget accounting system by introducing a new treasury fund management and risk prevention framework.
In 2023, she was elected as a representative to the 14th Guangdong Provincial People’s Congress. ‘This role allows me to really get involved in developing fiscal policies for the province, helping guide decision-making and providing strategic recommendations on key priorities,’ she says.
Streamlining spending
Areas such as fiscal spend, tax reform and digital finance are her current priorities. Another is ensuring government money is spent well in important areas and finding ways to use funds more efficiently. Notably, she has developed several systems to clarify approval processes and responsibilities across various levels of government.
Two significant reforms she has spearheaded are a fiscal funds approval system and a digital finance and fiscal funds management system. They incorporate a full set of operating procedures for treasury e-payment management and implementation guidelines defining stakeholder roles in centralised treasury payments.
The new systems have increased accountability and transparency in funding approval and allocations, incentivising prudent spending, she says. More practically, a new fiscal management system shortened approval processes by an average of three days and ensured every allocation has a fully transparent e-record.
‘I try to respond to what people really need and address any pain points’
She also helped establish a fund notification and reporting process that linked budget commitments to performance reviews. She designed targeted metrics and factor weightings to optimise spending. The metrics focused on strengthening the budget process, increasing spending accountability and reducing the ‘three public expenses’, including official overseas visits, official vehicles and official receptions.
Based in Zhanjiang, Jin regularly travels throughout Guangdong for research work, exposing her to a variety of sectors. For example, she has worked with the agricultural department to grow exports and imports through maritime and air transport channels. ‘Developing the airport’s global routes is crucial to tap the full potential of the industry, as sea transport alone has limitations,’ she says.
Jin wants her work to have a real-world impact. ‘It’s important to focus on what the party and the government are working on, and I also want my proposal to be helpful for the economy and society,’ she says. ‘I try to respond to what people really need and address any pain points they have.’
Core skills
Jin credits her ACCA qualification with advancing her career. ‘As an ACCA member, I have access to tons of great resources and professional services.’ This includes the opportunity to access survey reports and engage in forums with industry peers to discuss the latest trends in areas such as artificial intelligence and digital finance.
The qualification’s comprehensive coverage of core knowledge and skills, as well as its global reputation, were among the major draws for her. ‘It gave me a well-rounded understanding of accounting and asset management that has been so useful in my day-to-day work.
'With the development of the government's comprehensive financial reporting system, the management and reporting of assets by the public sector have become increasingly standardised and transparent. Throughout this process, the ACCA qualification has enabled me to provide many constructive suggestions.’
Jin’s ACCA training has given her the expertise to advise supervisors across the province. She has helped to establish asset management systems, to track infrastructure investment better, address budget shortfalls, and manage income and spending.
‘I aspire to use technology to boost efficiency and reduce financial risks’
Talent drive
She has also joined others in advocating for policies to identify talented people and make suggestions for high-quality economic growth in the region. These efforts paid off in 2023 when the Zhanjiang municipal government upgraded its measures, and ACCA training was included in the Zhanjiang High-level Talent Catalogue.
Far from sitting back and resting on her laurels, she is already looking ahead to the next milestone. ‘I aspire to lead pioneering projects that utilise big data, AI and other cutting-edge technologies to streamline how we manage money, boost efficiency with our resources and reduce financial risks.’
