Highlights of news conference of the Ministry of Finance

National budget up in 2019: Liu Kun

China's revenue in the national general public budget is projected to total 19.3 trillion yuan this year ($2.88 trillion) — up 5 percent since last year — while expenditures are projected to amount to 23.5 trillion yuan, a 6.5 percent increase, Finance Minister Liu Kun said.

He noted for the first time this year the central and local governments separately reported the implementation of the budget of the social insurance fund. Combined with the general public budget, the government fund budget and the State-owned capital operation budget, all four budgets have been reported at the central, local and national levels, he said.

The national government fund budget will gain revenue of 7.8 trillion yuan, increasing 3.4 percent from a year earlier, and its expenditures will be about 10 trillion yuan, up 23.9 percent; the national State-owned capital operating budget will see revenues rising 16.1 percent year-on-year to 336.6 billion yuan, and expenditures will come in at 240.1 billion yuan, up 11.2 percent; and the national social insurance fund will get income of nearly 8 trillion yuan, an increase of 9.7 percent compared with expenditures of 7.4 trillion yuan — a year-on-year rise of 15 percent.