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Era of increased spending ends

Updated: 2013-01-29 07:51
By Wei Tian, Li Fangfang and Gao Yuan ( China Daily)

New measures curb procurement budget amid tighter scrutiny

Government procurement may have peaked last year as tougher regulations mean that huge increases in public expenditure are a thing of the past, a government official said.

The procurement budget will stay around 20 billion yuan ($3.22 billion), an amount similar to the 20.5 billion budget for 2012, said Wang Lida, director of the Central Government Procurement Center.

Era of increased spending ends