China projects 900 billion yuan (136.4 billion U.S. dollars) in fiscal deficit, or 2 percent of GDP, in 2011, says a government work report to be delivered by Premier Wen Jiabao at the parliament's annual session Saturday.
The deficit is 150 billion yuan less than that of last year. Of the deficit, 700 billion yuan will be for the central government and 200 billion yuan for the local government through issuing bonds, reads the report, distributed to the media before the opening of the Fourth Session of the 11th National People's Congress (NPC).