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Total revenue in local budgets in China amounted to 1.8082
trillion yuan last year, including tax rebates and subsidies
granted by the central government, an increase of 221.5 billion
yuan or 14 percent year-on-year and 105.7 percent of the budgeted
figure, Finance Minster said Saturday.
Total expenditures in local budgets came to 1.78 trillion yuan,
including 61.5 billion yuan turned over to the central
government,188 billion yuan or 11.8 percent more than the previous
year and 104.1 percent of the budgeted figure.
Local revenue exceeded expenditures by 28.2 billion yuan, which
was to be used in the following year, the minister said in a report
on the implementation of the central and local budgets for 2003 and
on the draft central and local budgets for 2004.
Total central government revenue in 2003 exceeded the projected
figure by 52.4 billion yuan, after allowing for an additional
82.9billion yuan used in export tax rebates during the
implementation of the budget.
This surplus included 7.8 billion yuan from increased vehicle
purchase tax, which was incorporated into the calculation of
revenue and expenditures in the central budget and was funded for
special purposes according to the relevant regulations.
Another 7.8 billion yuan was used to increase tax rebates and
general transfer payments to local governments in accordance with
the relevant institutional rules.
The final 36.8 billion yuan was used during the year mainly for
combating disasters and providing disaster relief, developing
education, health, and science and technology, supporting
enterprise reforms, improving social security, and upgrading the
ecological environment, said Jin.
(Xinhua News Agency March 6, 2004)
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