The article consistently outlines the principles of the budget system of the People’s Republic of China, as well as their comparison with the normative content of the principles of the budget system of the Russian Federation. The analysis of such principles allows to reveal considerable similarity of the Russian and Chinese budgetary legal regulation of bases of construction of national budget systems. This can be traced through the consolidation, in particular, of the principles of budgets autonomy, completeness of the reflection of revenues and expenditures in budgets, jurisdiction, target nature of budget funds, efficiency. At the same time there are some unique principles that are present in the budget law of each state.