Full text: Report on China's central, local budgets(12)

3. Implementation of the Central Government's State Capital Operations Budget

In 2011, revenue from the state capital operations of the central government totaled 76.502 billion yuan, 90.6% of the budgeted figure and an increase of 36.9%. The difference between the actual and budgeted amounts was mainly because sales of state shares of enterprises amounted to less than expected. Adding the 3.559 billion yuan carried forward from 2010, utilized revenue totaled 80.061 billion yuan.

Expenditure on the central government's state capital operations came to 76.954 billion yuan, 89.6% of the budgeted figure and an increase of 42%. The difference between the actual and budgeted amounts was mainly due to proceeds from the sale of state shares of enterprises being less than expected, which resulted in a corresponding reduction in expenditure. This figure includes 49.166 billion yuan for restructuring the state sector and industrial restructuring, 2.312 billion yuan in subsidies for reforming central government enterprises and making them profitable, 3.5 billion yuan for fostering major scientific and technological innovations, 3.5 billion yuan for major energy conservation and emissions reduction projects, 2.318 billion yuan for overseas investment, 955 million yuan for strengthening production safety, 8 billion yuan for enterprise mergers and reorganizations, 2.609 billion yuan for supporting emerging industries, and 4 billion yuan transferred to the public finance budget and spent on social security.