Business / Economy

China 2011 central expenditure up 16.8%

(Xinhua) Updated: 2012-07-12 09:58

BEIJING -- China's central government expenditure last year totalled 5.64 trillion yuan ($892 billion), representing 103.8 percent of the year's budget, according to figures released Wednesday by the Ministry of Finance.

The figure was up 16.8 percent from the expenditure in 2010, the MOF 2011 financial statement showed.

The central government's total public revenue last year was 5.13 trillion yuan, 111.9 percent of the budget and up 20.8 percent from a year earlier, the ministry said.

The actualized central finance deficit was 650 billion yuan, 50 billion yuan less than the budget, the statement said.

Minister of Finance Xie Xuren said that the government earnestly carried on a proactive fiscal policy and strictly implemented the budget for the year.

"The government has actively brought the functions of central finance into full play and prioritized safeguarding and improving people's livelihoods," he added.

Central expenditure on education, healthcare, social security and employment, affordable housing and culture reached 1.17 trillion, up 30.7 percent from a year earlier, the statement said.

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