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China plans US$30.12b gov't procurement
(Xinhua)
Updated: 2005-03-06 16:54 China plans to increase its
government procurement in 2005 to 250 billion yuan (approximately 30.12 billion
US dollars), up 25 percent over last year, to regulate government spending,
according to a report on the centraland local budgets.
"The government procurement system will be expanded to include all government
bodies, institutions and people's organizations at all levels," notes the report
concerning the implementation of thecentral and local budgets for 2004 and on
the draft central and local budgets for 2005, submitted Saturday to the annual
session of the National People's Congress (NPC) for deliberation and approval.
The total government procurement exceeded 200 billion yuan (some 24.18
billion US dollars) in 2004, resulting in a saving of about 10 percent in the
use of funds, the report says.
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