China to spend two-thirds of central budget on livelihood

Minister of Finance Xie Xuren speaks at a news conference on China's fiscal policies on the sidelines of the annual parliamentary session in Beijing March 7. [Photo/Xinhua]

BEIJING - China will spend two thirds of central budget on improving the people's livelihood in 2011, Finance Minister Xie Xuren said Monday.

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The funds will be used to boost education, health care, social security and job creation, Xie told a press conference.

The government will also use the money to improve agriculture, water conservation, transport and environmental protection, he said.

China's central budget hit 5.436 trillion yuan ($827.6 billion) this year, a rise of 12.5 percent over that of last year, according to the 2011 budget draft submitted to the on-going parliamentary session.