Source: Xinhua

03-05-2009 17:20

BEIJING, March 5 (Xinhua) -- China's Ministry of Finance on Thursday submitted a report on the implementation of 2008 central and local budgets and on the draft budgets for 2009 to the second session of the 11th National People's Congress, China's top legislature.

The following are some key figures from the report:

-- The central government in 2009 will allocate 908 billion yuan in public spending, an increase of 487.5 billion yuan.

-- The central budget for 2009 earmarks 123.08 billion yuan for direct subsidies to grain producers, general subsidies for purchasing agricultural supplies, subsidies for growing superior crop varieties and subsidies for the purchase of agricultural machinery and tools, an increase of 20.04 billion yuan or 19.4 percent.

-- In 2009, a total of 220.833 billion yuan will be allocated to increase subsistence allowances for both urban and rural families, grant them and other families in financial hardship a one-time subsidy before the Spring Festival, increase basic pension payments for retirees from state-owned enterprises and increase support for entitled groups.

-- 103.341 billion yuan will be allocated in 2009 to implement a policy subsidizing rural residents' purchase of home appliances and vehicles and increase reserves of important materials such as grain, petroleum, nonferrous metals and specialty steel products.