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)