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China's 2008 draft budget report
(Xinhua)
Updated: 2008-03-05 09:25

The Ministry of Finance, on behalf of the State Council, on Wednesday submitted a report on the implementation of 2007 central and local budgets and on the draft budgets for 2008 to the annual full session of the 11th National People's Congress (NPC), China's top legislature.

The following are some facts and figures from the 32-page report:

-- Total combined revenue in the draft central and local budgets for 2008 is targeted at 5.8486 trillion yuan, 718.197 billion yuan or 14 percent more than that for 2007. Total expenditures in the draft central and local budgets amount to 6.0786 trillion yuan, a rise of 1.12206 trillion yuan or 22.6 percent.

-- The 2008 central budget has allocated 409.94 billion yuan for national defense, up 17.7 percent from last year.

-- The central government deficit is tentatively set at 180 billion yuan, 65 billion yuan less than the figure in the 2007 budget. Total central government investment is set at 152.1 billion yuan, an increase of 17.7 billion yuan.

-- A total of 145.049 billion yuan will be allocated from the central budget for agriculture, forestry and water conservancy for 2008, up 17.2 percent.

-- The central government allocations for education in 2008 will total 156.176 billion yuan, an increase of 45.1 percent.

-- The central government has earmarked 83.158 billion yuan for 2008 expenditures for medical and health care, an increase of 25.2 percent.

-- The central government will spend 276.161 billion yuan in 2008 for social security and employment improvement, a rise of 24.2 percent.

-- Allocations in the central budget for expenditures in science and technology in 2008 will total 113.398 billion yuan, up 26 percent.