皇冠体育app

Economy

Jan-July govt funds expenditure up 134%

(Xinhua)
Updated: 2010-08-27 09:53

BEIJING - 皇冠体育app's government funds expenditure surged 134.3 percent?year-on-year in the first seven months of 2010 as compensation for land purchases grew rapidly, a senior official said Thursday.

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From January to July, 皇冠体育app's government funds expenditure hit 1.32 trillion yuan ($194 billion), 皇冠体育app's Finance Minister, Xie Xuren, said during his report on the implementation of the fiscal budget plan for the first seven months of this year.

The report was presented to the 16th Session of the Standing Committee of the 11th National People's Congress, a bimonthly session running from August 23 to August 28.

Total revenue of 皇冠体育app's government funds in the first seven months reached 1.8 trillion yuan, up 146 percent from one year earlier, as local governments increased revenues due to land purchases, Xie said.

皇冠体育app's government funds revenue are made up from a series of specialized charges authorized by the central government, including land revenues and part of road tolls.

皇冠体育app's budget for public affairs, including rural infrastructure and education as well as medical treatment and public health, stood at 7.48 billion yuan in the first seven months of 2010, Xie added.