Full Text: Report on central, local budgets

Total revenue from funds managed by both central and local governments will reach 1.870449 trillion yuan, an increase of 36.945 billion yuan or 2%. Adding the 65.571 billion yuan in revenue carried over from last year from central government-managed funds, the total revenue from government-managed funds is projected to be 1.93602 trillion yuan. Expenditures from these funds will also total 1.93602 trillion yuan, an increase of 324.141 billion yuan or 20.1%.

2) Budgetary revenue and expenditures projected for the central government's state capital operations. In 2010, the budget for the central government's state capital operations will include the revenue and expenditures of enterprises subject to the oversight and supervision of the State-Owned Assets Supervision and Administration Commission of the State Council as well as the China National Tobacco Corporation and the China Post Group, and it will be gradually expanded in the future. Revenue from state capital operations of central government enterprises will reach 42.1 billion yuan, an increase of 3.226 billion yuan or 8.3%. Adding the 1.9 billion yuan carried over from 2009, total budgetary revenue will be 44 billion yuan. Budgeted expenditures from the central government's state capital operations also come to 44 billion yuan, consisting of 2 billion yuan for post-Wenchuan earthquake recovery and reconstruction, 18.3 billion yuan for restructuring the state sector of the economy and industrial restructuring, 12 billion yuan in subsidies for reforming central government enterprises and making them profitable, 3.2 billion yuan to help such enterprises make major scientific and technological innovations, 3 billion yuan for getting them to conserve energy and reduce emissions, another 3 billion yuan for them to invest overseas, 500 million yuan for their social security expenditures, 1 billion yuan toward the public finance budget to be spent on social security and other programs to improve people' s wellbeing, and 1 billion yuan to be held in reserve.

In addition, the State Council has decided to compile a national budget for social security funds on a trial basis beginning in 2010. The budget will first include the funds for five types of social security: basic old-age insurance and unemployment insurance for enterprise employees, and basic medical insurance, workers' compensation, and maternity insurance for urban workers. Conditions will also be created to gradually bring other social security funds set up in accordance with state laws and regulations within the control of the national budget for social security funds. When conditions are ripe, the State Council will submit this budget to the NPC.