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Central government departments disclose annual budgets

By Liu Zhihua | chinadaily.com.cn | Updated: 2024-03-29 13:46

A woman shows banknotes and coins included in the 2019 edition of the fifth series of the renminbi. [Photo/Xinhua]

The central government departments in China have recently disclosed their annual budgets to the public.

The annual income and expenditure arrangements for more than 100 government units were unveiled, showing that their focus remains on allocating financial resources to support critical national strategic tasks while strictly controlling general expenditures and implementing measures to manage finances more tightly.

Budget disclosure is a critical measure to strengthen budget management, optimize resource allocation, tighten budget constraints and enhance financial oversight. It serves as a mechanism to safeguard public knowledge rights and reinforce external supervision.

In terms of expenditure arrangements, financial resources will be concentrated on safeguarding major national strategic tasks, following the principle of "generosity for significant funds and frugality for small amounts".

In 2024, the general public budget expenditure of the central government will increase by 8.6 percent and, after deducting the key expenditures that guarantee key items, it will only increase by 0.3 percent. The key items guaranteed include national defense and armed police spending, science and technology education, central reserves, and national debt issuance and interest payment.

At the same time, there is strict control over general expenditures, and spending of central government departments will be compressed as much as possible, with vigorous efforts to encourage them to optimize expenditure structure and use funds effectively.


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