China's Finance Minister on Friday denied rumor that the government spent 300 billion yuan (47.9 billion U.S. dollars) on public vehicles, receptions and trips.

"It is nonsense to say that," said minister Lou Jiwei at a press conference.

Public funds for government vehicles, officials' overseas trips and official receptions are known as "three public funds."

The central government's expenditure of the funds was 7.1 billion yuan last year, 800 million yuan lower that that of 2013, he said. "The funds for this year would not exceed last year's level."

Lou said he was not clear about the use of funds in local governments, but he estimated the total figure would be dozens of billion yuan, rather than "300 billion yuan" as rumored.