The approaches of the Russian and Chinese legislators re veal both similarities and differences in the construction of the public fi nance system of the two states. One of the key issues is to determine the optimal parameters for the use of such a mechanism as extra budgetary funds in the structuring of budget systems. Extra budgetary funds face special public tasks and therefore occupy an independent place in the structure of national budget systems both in Russia and in China. Both jurisdictions have established a system of social insurance funds through which such an important area of public life is financed. At the same time, the catalogue of modern extra budgetary funds in China has a significant peculiarity in which special attention should be paid to government funds and budgets for state capital operations which are absent in Russia.