Increased state contribution
Print Edition
SHANGHAI will lift state-owned capital’s contribution to fiscal income and cut government spending on cars, trips, and receptions this year as part of measures to improve budgetary revenue and expenditure, the city’s finance bureau said.
The government plans to transfer 22 percent of profits of the city’s state-owned capital into the public budget, the Shanghai Finance Bureau said in the government budget report to the city’s People’s Congress yesterday.
The proportion was lifted from 19 percent last year.
Meanwhile, the government’s budget on purchase and use of cars, overseas trips, and official receptions drops 8 percent from last year to 688 million yuan (US$100 million).
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