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Report on China's central, local budgets
Posted: March-18-2011Adjust font size:

2. Implementation of budgets for government-managed funds

In 2010, revenue from government-managed funds nationwide came to 3.578194 trillion yuan, and expenditures amounted to 3.258264 trillion yuan.

Revenue from central government-managed funds reached 317.557 billion yuan, 124.3% of the budgeted figure. This figure includes 5.916 billion yuan from the Three Gorges Project construction fund, 61.692 billion yuan from the railroad construction fund, 11.444 billion yuan from port development fees, 13.641 billion yuan from civilian airport administration and development fees, 24.773 billion yuan from lottery ticket proceeds, 18.344 billion yuan from the fund for providing ongoing aid to residents relocated to make way for the construction of large and medium-sized reservoirs, and 9.144 billion yuan from the central government fund for repaying rural power grid loans. Adding the 63.134 billion yuan carried forward from 2009, utilized revenue totaled 380.691 billion yuan in 2010.

Expenditures from central government-managed funds totaled 301.675 billion yuan, 94% of the budgeted figure. This total consists of two parts. The first is 228.405 billion yuan of central government spending, including 6.989 billion yuan on the construction of the Three Gorges Project; 58.2 billion yuan on railroad construction; 8.715 billion yuan on port development; 4.676 billion yuan on civilian airport administration and development; 13.91 billion yuan from lottery ticket proceeds, which was spent on social welfare programs, sports, education and other public service programs; 45 million yuan from the fund for providing ongoing aid to residents relocated to make way for the construction of large and medium-sized reservoirs; and 10.287 billion yuan from the central government fund for repaying rural power grid loans. The second part is 73.27 billion yuan in transfer payments to local governments, an increase of 13.34 billion yuan or 22.3%. A total of 79.016 billion yuan was carried forward to 2011 from central government-managed funds.

Revenue collected by local governments from funds under their control reached 3.260637 trillion yuan, 201.9% of the budgeted figure. This figure includes 2.910994 trillion yuan from the sale of state-owned land-use rights, 213.2% of the budgeted figure, which was mainly attributable to increased land supply, increase of overall land prices and better revenue management; 61.087 billion yuan from urban infrastructure construction fees; 24.364 billion yuan from lottery ticket proceeds; and 24.282 billion yuan from local education surcharges. Adding the 73.27 billion yuan in transfer payments from central government-managed funds, total revenue from local government-managed funds came to 3.333907 trillion yuan.

Expenditures from local government-managed funds totaled 3.029859 trillion yuan, 175% of the budgeted figure. This includes 2.697579 trillion yuan of spending from proceeds of the sale of state-owned land-use rights, consisting of 1.33956 trillion yuan paid out as compensation for land expropriation, housing demolition and resident relocation; 224.827 billion yuan for strengthening rural infrastructure and providing subsidies to farmers; 46.362 billion yuan for providing low-rent housing; 333.663 billion yuan from proceeds of the sale of land-use rights of SOEs that went bankrupt or were converted into stockholding companies, which was used to assist their laid-off employees in resettling; and 753.167 billion yuan for urban development spent in accordance with relevant provisions of the Law on Urban Real Estate Administration. A total of 28.819 billion yuan from lottery ticket proceeds was spent on social welfare, sports, education and other public service programs; 47.968 billion yuan was spent on urban infrastructure construction; and 17.741 billion yuan was added to local education expenditures. The surplus revenue from local government-managed funds was carried forward to 2011.

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Source: XinhuaEditor: Lydia
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