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Full text: Report on China's central, local budgets

Xinhua | Updated: 2013-03-20 10:49

4. Budgets for Government-managed Funds

Receipts of central government-managed funds will come to 361.913 billion yuan, an increase of 9.2%. Adding the 78.102 billion yuan carried forward from last year, total revenue of central government-managed funds will reach 440.015 billion yuan in 2013. Outlays of central government-managed funds will be 440.015 billion yuan, an increase of 31.2%. This figure consists of 256.401 billion yuan of central government spending, up 17.9%, and 183.614 billion yuan in transfer payments to local governments, up 55.7%.

Revenue of funds managed by local governments will reach 3.313702 trillion yuan, down 3.1%, which includes 2.740401 trillion yuan from the sale of state-owned land use rights, down 3.9%. Adding the 183.614 billion yuan in transfer payments from central government-managed funds, total revenue of local government-managed funds will reach 3.497316 trillion yuan. Expenditure of local government-managed funds will total 3.497316 trillion yuan, up 3.2%, including 2.804604 trillion yuan of spending earmarked from proceeds of selling state-owned land use rights, down 1.3%.

Combined revenue of funds managed by the central and local governments will reach 3.675615 trillion yuan, down 2%. Adding the 78.102 billion yuan carried forward from last year, revenue of government-managed funds nationwide will total 3.753717 trillion yuan. Expenditure of these funds will amount to 3.753717 trillion yuan, up 4.1%.

5. Budgets for state capital operations

Revenue from the central government's state capital operations will reach 101.1 billion yuan, an increase of 4.1% over 2012. Adding the 7.211 billion yuan carried over from last year, revenue will total 108.311 billion yuan. Expenditure financed by state capital operations will come to 108.311 billion yuan, an increase of 16.5%, including 6.5 billion yuan, up 30%, transferred to the public finance budget to be spent on improving the quality of people's lives, such as social security.

Revenue and expenditure from local government state capital operations will each amount to 55.84 billion yuan.

Combining central and local budgets, national revenue from state capital operations will reach 156.94 billion yuan, and adding the 7.211 billion yuan carried over from last year, total revenue is projected to be 164.151 billion yuan. Expenditure from these operations will come to the same amount.

Budgets for social insurance funds have been compiled on a trial basis for the past three years, and relevant institutional systems and management mechanisms have been established over time. In accordance with the requirements of the NPC, we worked together with the Ministry of Human Resources and Social Security and the Ministry of Health to officially prepare the 2013 national budget for social insurance funds, the first of its kind in China, which includes every fund prescribed in the Social Insurance Law. Combining central and local budgets, nationwide revenue of social insurance funds will be 3.282878 trillion yuan, an increase of 9.9% over the estimated figure for 2012. This includes 2.466372 trillion yuan of insurance premiums and 718.031 billion yuan of government subsidies. Expenditure of social insurance funds will total 2.791331 trillion yuan nationwide, an increase of 16.8% over the estimated figure for 2012. This year, revenue will exceed expenditure, leaving a surplus of 491.547 billion yuan, and the year-end balance is projected to be 4.09431 trillion yuan once the balance from 2012 has been rolled over.

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