The budget stabilization fund is a reserve fund set up within the general public budget at all levels of government. Its purpose is to achieve macroeconomic regulation goals, ensure the continuity and stability of government budgets across fiscal years, and smooth out deficits between years. Other government budgets, such as those for government-managed special funds, state-owned capital operations, and social insurance, are not allowed to establish a budget stabilization fund. Both the central and local governments have established such funds. The central budget stabilization fund was officially set up in 2007, while the launches of provincial-level funds varied. The earliest to establish such funds in 2008 were 14 provinces, autonomous regions, and municipalities, including Beijing, Shanxi, Inner Mongolia, Liaoning, Jilin, Shanghai, Jiangsu, Anhui, Fujian, Henan, Guangdong, Hainan, Guizhou, and Gansu. Tibet was the last to establish its fund in 2015.