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05Mar14

Facts & Figures: China's 2014 draft budget report

The Ministry of Finance, on behalf of the State Council, on Wednesday submitted a report on the implementation of 2013 central and local budgets and on the draft budgets for 2014 to the second session of the 12th National People's Congress, China's top legislature.

The following are some facts and figures from the report.

  • Combining the central and local budgets, national revenue is projected to be 13.953 trillion yuan (2.3 trillion U.S. dollars), up 8 percent. Including the 99.3 billion yuan to be used to repay the principal on local government bonds, total expenditure will hit 15.403 trillion yuan, leaving a deficit equivalent to about 2.1 percent of GDP.

  • The appropriation for agriculture, forestry and water conservancy is 648.747 billion yuan, up 8.6 percent.

  • The appropriation for social security and employment is 715.296 billion yuan, up 9.8 percent.

  • The appropriation for education is 413.355 billion yuan, up 9.1 percent.

  • The appropriation for science and technology is 267.39 billion yuan, up 8.9 percent.

  • The appropriation for culture, sports and the media is 51.229 billion yuan, up 9.2 percent.

  • The appropriation for medical and health care and family planning is 303.805 billion yuan, up 15.1 percent.

  • The appropriation for guaranteeing housing is 252.869 billion yuan, up 9 percent.

  • The appropriation for energy conservation and environmental protection is 210.909, up 7.1 percent.

  • The appropriation for transport is 434.568 billion yuan, up 5.1 percent.

  • The appropriation for stockpiling grain, edible oils and other materials is 139.396 billion yuan, up 10.1 percent.

  • The appropriation for national defense is 808.23 billion yuan, up 12.2 percent.

  • The appropriation for public security is 205.065 billion yuan, up 6.1 percent.

  • The appropriation for general public services is 124.515 billion yuan, up 2.6 percent.

  • The appropriation for natural resource exploration and information technology is 60.577 billion yuan, down 20.7 percent, which is mainly because of the decrease in expenditure on infrastructure construction.

  • The appropriation for commercial services is 36.669 billion yuan, a reduction of 19.1 percent, which is primarily due to the spending decrease because no new appropriation will be made for 2014 after the expiration of the policy to provide rural residents with subsidies for the purchase of home appliances.
[Source: Xinhua, Beijing, 05Mar14]
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