yuan. Expenditu

• res in the centr
• al budget ▓to
• taled 3.631992 tri
• llion yuan, an incre
• ase of 673▓.997 bil
• lion yuan or 22.

8%, equivalent to 102.

yuan in tax rebates, up 3.9%, 869.6▓49 billion yuan in fiscal transfer payments including ▓general transfer payments, a 22% increase, and 996.693 bil?/p>

坙ion yuan in special transfer payments, a 44.6% increase. ▓The large increase in this last item was mainly due to the huge increase in expenditures required to subsidize key lo▓cal programs suc

h as education and medical and health car▓e. Tax rebates and transfer payments turned over to loc▓al governments became part of the revenue of local governm▓ents, which ma

5% of the targ

• et. This figure cons
• ists of 1.3374
• 31 trillion yuan u
• sed by the cen
• tral government and
• 2.294561trillion

de arrangements for their utilization. Transfer payments from the central government accounted for an average of 38% of local government spending nationwide and 54.4% in the central and western re

• ▓yuan in tax rebates and transfer
• payments to local governments. A t
• otal of 19.2 billion yuan was set aside
• for the central budget stabilizati
• on fund. Total expenditure▓s th

This consists of 2.86449▓1 trillion yuan collected by local governments and 2.294561 trillion yuan in tax rebates and transfer payments

• sion of the
• Eleventh NPC
• . The outstanding
• balance of g▓ov
• ernment bonds in t

• he central budget at
• the end of 2008 t▓
• otaled 5.327076 trilli
• on yuan, which
• was under the s