Budget to lift people's lives increases
By Zhu Shenshen |
March 21, 2011, Monday
|
Print Edition
Print Edition
CHINA will spend over 18 percent more on education, social security and building budget homes this year to improve the daily lives of its people, Finance Minister Xie Xuren said yesterday in Beijing.
The country will continue its proactive fiscal policy and push tax reform to ease the financial burden of low-income earners, Xie said during the China Development Forum 2011 held in Beijing yesterday.
The central government's budget for education, health care, social security, employment, budget homes and culture will total 1.05 trillion yuan (US$159.2 billion) this year, an annual rise of 18.1 percent, according to Xie.
"China will spend two thirds of its central budget on improving people's livelihoods if one takes into account other sectors like agriculture infrastructure construction, water conservation, public transportation and environment protection," Xie said.
The central government's budget totalled 5.436 trillion yuan this year, a rise of 12.5 percent from last year's.
China will continue with its proactive fiscal and sound monetary policy and also encourage tax reform, Xie said.
The State Council, or Cabinet, may raise the minimum income threshold for personal income tax and adjust tax rates, although it didn't reveal an official timetable for the changes or details.
Recent media reports said the minimum threshold may be raised to 3,000 yuan or even more from 2,000 yuan.
"It's a long-term national strategy to lift domestic consumption," Zhang Ping, head of the National Development and Reform Commission said at the forum.
The country will continue its proactive fiscal policy and push tax reform to ease the financial burden of low-income earners, Xie said during the China Development Forum 2011 held in Beijing yesterday.
The central government's budget for education, health care, social security, employment, budget homes and culture will total 1.05 trillion yuan (US$159.2 billion) this year, an annual rise of 18.1 percent, according to Xie.
"China will spend two thirds of its central budget on improving people's livelihoods if one takes into account other sectors like agriculture infrastructure construction, water conservation, public transportation and environment protection," Xie said.
The central government's budget totalled 5.436 trillion yuan this year, a rise of 12.5 percent from last year's.
China will continue with its proactive fiscal and sound monetary policy and also encourage tax reform, Xie said.
The State Council, or Cabinet, may raise the minimum income threshold for personal income tax and adjust tax rates, although it didn't reveal an official timetable for the changes or details.
Recent media reports said the minimum threshold may be raised to 3,000 yuan or even more from 2,000 yuan.
"It's a long-term national strategy to lift domestic consumption," Zhang Ping, head of the National Development and Reform Commission said at the forum.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
