Full text: Report on China's central, local budgets (2012)

Following is the full text of report on the implementation of central and local budgets for 2011 and on draft central and local budgets for 2012, which was submitted for review on March 5, 2012 at the Fifth Session of the Eleventh National People's Congress and was adopted on March 14:

REPORT ON THE IMPLEMENTATION OF CENTRAL AND LOCAL BUDGETS FOR 2011 AND ON DRAFT CENTRAL AND LOCAL BUDGETS FOR 2012

Fifth Session of the Eleventh National People's Congress March 5, 2012

Ministry of Finance

Fellow Deputies,

The Ministry of Finance has been entrusted by the State Council to submit this report on the implementation of central and local budgets for 2011 and on draft central and local budgets for 2012 to the Fifth Session of the Eleventh National People's Congress (NPC) for your deliberation and approval and for comments and suggestions from members of the National Committee of the Chinese People's Political Consultative Conference (CPPCC).

I. IMPLEMENTATION OF CENTRAL AND LOCAL BUDGETS FOR 2011

In 2011, the people of all the country's ethnic groups worked diligently with one heart and one mind under the firm leadership of the Communist Party of China (CPC). All localities and government departments comprehensively carried out decisions and arrangements of the central leadership, conscientiously implemented relevant resolutions of the Fourth Session of the Eleventh NPC, firmly grasped the theme of scientific development and the main thread of accelerating the transformation of the pattern of economic development, and strengthened and improved macro-control. As a result, the economy developed in the direction anticipated through macro-control, living standards constantly improved, reform and opening up continued to deepen, and the Twelfth Five-Year Plan got off to a good start. On this foundation, further progress was made in fiscal development and reforms, and government budgets were satisfactorily implemented.