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Key figures from Chinese Finance Ministry's 2010 draft budget report

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Key figures from Chinese Finance Ministry's 2010 draft budget report
10:13, March 06, 2010

China's Ministry of Finance on Friday submitted a report on the implementation of 2009 central and local budgets and on the draft budgets for 2010 to the National People's Congress, China's top legislature.

The following are some key figures from the report:

-- Revenue in the central budget will reach 3.806 trillion yuan, an increase of 216.386 billion yuan or 6 percent over the figure for 2009.

-- Expenditures in the central budget will reach 4.666 trillion yuan, an increase of 275.886 billion yuan or 6.3 percent.

-- Expenditures in the central budget will exceed revenue, resulting in a deficit of 850 billion yuan, an increase of 100 billion yuan.

-- Local government revenue will amount to 3.587 trillion yuan, up 10.1 percent.

-- Local government expenditures will exceed revenue by 200 billion yuan.

-- The national budget deficit is estimated at 2.8 percent of GDP in 2010, basically the same as last year.

MAIN REVENUE ITEMS PROVIDED FOR IN THE CENTRAL BUDGET

-- Revenue from domestic VAT will amount to 1.535 trillion yuan, an increase of 143.401 billion yuan or 10.3 percent.

-- Revenue from domestic sales tax will amount to 524.1 billion yuan, an increase of 48.188 billion yuan or 10.1 percent.

-- Revenue from customs duties together with revenue from VAT and sales taxes on imports will amount to 965 billion yuan, an increase of 43.728 billion yuan or 4.7 percent.

-- Revenue from corporate income tax will amount to 806.1 billion yuan, an increase of 44.218 billion yuan, up 5.8 percent.

-- Revenue from personal income tax will amount to 254.2 billion yuan, an increase of 17.528 billion yuan or 7.4 percent.

-- Revenue from stamp tax on securities transactions will amount to 51.6 billion yuan, an increase of 2.096 billion yuan or 4.2 percent.

-- Export tax rebates will amount to 707 billion yuan, an increase of 58.344 billion yuan or 9 percent, which will result in a decrease in revenue by the same amount.

-- Revenue from vehicle purchase tax will amount to 133.8 billion yuan, an increase of 17.483 billion yuan or 15 percent.

-- Non-tax revenue will amount to 207.7 billion yuan (including 1 billion yuan from the budget for state capital operations of the central government), a decrease of 45.966 billion yuan or 18.1 percent.

MAIN EXPENDITURE ITEMS PROVIDED FOR IN THE CENTRAL BUDGET

-- The appropriation for education spending is 215.99 billion yuan, an increase of 17.851 billion yuan or 9 percent, and 2.7 percentage points higher than the average increase in total expenditures in the central budget.

-- The appropriation for science and technology spending is 163.285 billion yuan, an increase of 12.083 billion yuan or 8 percent, and 1.7 percentage points higher than the average increase in total expenditures in the central budget.

-- The appropriation for spending on culture, sports, and media is 31.449 billion yuan, a decrease of 1.9 percent.

-- The appropriation for medical and health care spending is 138.918 billion yuan, an increase of 11.204 billion yuan or 8.8 percent, and 2.5 percentage points higher than the average increase in total expenditures in the central budget.

-- The appropriation for social security and employment spending is 358.225 billion yuan, an increase of 28.559 billion yuan or 8.7 percent, and 2.4 percentage points higher than the average increase in total expenditures in the central budget.

-- The appropriation for housing spending is 99.258 billion yuan, up 1.4 percent.

-- The appropriation for spending on agriculture, forestry, and water conservancy is 377.894 billion yuan, an increase of 26.77 billion yuan or 7.6 percent, and 1.3 percentage points higher than the average increase in total expenditures in the central budget.

-- The appropriation for spending on land, resources, and meteorology is 33.625 billion yuan, an increase of 9.187 billion yuan or 37.6 percent.

-- The appropriation for environmental protection spending is 141.288 billion yuan, an increase of 26.108 billion yuan or 22.7 percent.

-- The appropriation for spending on transportation and transport is 211.919 billion yuan, down 2.7 percent.

-- The appropriation for spending on resource exploration, electricity, and information is 69.612 billion yuan, down 18.2 percent.

-- The appropriation for spending on managing reserves of grain, edible oil, and other materials is 107.841 billion yuan, down 4.4 percent.

-- The appropriation for spending on commerce and services is 85.258 billion yuan, an increase of 23.455 billion yuan or 38 percent.

-- The appropriation for spending on post-Wenchuan earthquake recovery and reconstruction is 78.001 billion yuan.

-- The appropriation for national defense spending is 519.082 billion yuan, an increase of 36.097 billion yuan or 7.5 percent.

-- The appropriation for public security spending is 139.069 billion yuan, an increase of 10.324 billion yuan or 8 percent.

-- The appropriation for general public service spending is 101.495 billion yuan, a decrease of 6.73 billion yuan.

-- The appropriation for interest on government bonds is 153.516 billion yuan, an increase of 21.446 billion yuan or 16.2 percent.

Source: Xinhua

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