In optimizing the structure of government spending, China will provide priority support for key projects that have been included in the 14th Five-Year Plan and specific plans in key areas, according to a draft budget report submitted to China's top legislature on Saturday.
The country will practice an appropriate degree of advance investment for infrastructure projects, and increase support for major regional development strategies and in areas including scientific and technological advancement, ecological and environmental protection, basic public wellbeing, and modern agriculture, read the draft report.
The document shows that expenditures in the central general public budget are projected to be 13.4 trillion yuan (about 2.12 trillion U.S. dollars), with a yearly increase of 14.3 percent, and expenditures in the local general public budget are projected at 23.1 trillion yuan, up 8.9 percent.
The budgeted national spending on education is expected to increase by 10.6 percent, the budgeted national expenditure on science and technology will grow 7.2 percent, and the planned national defense spending will increase by 7.1 percent year on year, read the report.
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