Local Expenditure

 

June,2012

In the first half of 2012, the local government expenditures of Shanghai Municipality amount to RMB 194.54 billion, RMB 26.41 billion more than the previous year, or up 15.7% in annual terms, representing 48.2% of the budget goal for 2012.  

According to requirement of the State and Shanghai Municipality that government spending budgets should be both balanced and focused, the government should give incentives to some sectors and disincentives to some others, and the structure of fiscal expenditures should be further optimized, the Municipal Government of Shanghai has directed its government expenditures to three key targets: a. stabilizing growth, transforming the growth model, and adjusting the industrial structure; b. promoting social development, especially improving the livelihood of the people; and c. integrated and sustainable development of both the urban and rural areas.