GOVERNMENT REVENUE AND EXPENDITURES
Government income is the money that the government receives from its
involvement in the distribution of social goods. In addition to gifts and grants,
it also comprises a variety of tax revenues, special revenues, interest, and
revenue from capital building projects and the repayment of capital construction
loans. Government Expenditure is the term used to describe the non-
gratuitous usage and appropriation of funds for capital construction in the
spectrum of capital construction, outlay of capital as well as loans on
capital construction authorized by the government for particular purpose
or policy purpose. The money appropriated from the government budget for
businesses to innovate, advance technology, and access latent power are
referred to as innovation funds of the businesses.
The government budget covers costs for geological prospecting, science
and technology promotion, rural production, departmental operating costs
for agriculture, forestry, water conservation, the aquatic products industry,
meteorology, technology popularization in township enterprises,
popularization of improved varieties, plant protection, water quality
monitoring, prospecting and designing, resources investigation, cadres
training, subsidies to horticulture gardens, and more.
The government budget covers the costs of salaries and operational
expenses for the departments of industry, transport and commerce,
culture, education, science, and public health, as well as traditional
Chinese medicine, free medical services, sports, archives, earthquake,
ocean, communications, broadcasting, film, and television, family
planning, training of government cadres, party and mass organizations,
natural sciences, social sciences, and associations.
Wages, overtime pay, welfare funds, retiree pensions, stipends, expenses
for official business, equipment purchases, repair costs, business
expenses, and subsidies to units unable to cover their costs out of their
own income are some examples of these costs. Additionally included are
relief payments for social welfare as well as pensions for the disabled or
for the families of the deceased. The state budget provides funding for
retirees, social security system subsidies, employment promotion, and
supplemental contributions to the federal social security system.
Expenditures for national defense, administrative costs, policy-related
subsidies, interest on debts, revenue from the federal government and
local governments, tariffs, consumption taxes, and value-added taxes
levied by customs, consumption tax, income taxes of businesses under
the federal government's jurisdiction, income taxes of local banks, foreign-
funded banks, and non-bank financial institutions, business taxes, and
profits from railroads, as well as the cost of operating bank headquarters.
Business taxes, income taxes from companies that report to the local
government, the percentage of personal income taxes that the central
government will share (aside from interest income taxes), taxes on urban
land, taxes on adjustments to fixed asset investments, taxes on town
maintenance and construction, taxes on real estate, taxes on vehicles and
ships, stamp taxes, slaughter taxes, taxes on agriculture and animal
husbandry, and taxes on specie are just a few of the sources of revenue
for local governments. Spending by the central government includes
funding for the national defense, armed police forces, administrative costs,
various operating costs at the central government level, funding for major
projects, and adjustments to the national economic structure as well as for
coordinating regional development and exercising macroeconomic
Government income is the money that the government receives from its
involvement in the distribution of social goods. In addition to gifts and grants,
it also comprises a variety of tax revenues, special revenues, interest, and
revenue from capital building projects and the repayment of capital construction
loans. Government Expenditure is the term used to describe the non-
gratuitous usage and appropriation of funds for capital construction in the
spectrum of capital construction, outlay of capital as well as loans on
capital construction authorized by the government for particular purpose
or policy purpose. The money appropriated from the government budget for
businesses to innovate, advance technology, and access latent power are
referred to as innovation funds of the businesses.
The government budget covers costs for geological prospecting, science
and technology promotion, rural production, departmental operating costs
for agriculture, forestry, water conservation, the aquatic products industry,
meteorology, technology popularization in township enterprises,
popularization of improved varieties, plant protection, water quality
monitoring, prospecting and designing, resources investigation, cadres
training, subsidies to horticulture gardens, and more.
The government budget covers the costs of salaries and operational
expenses for the departments of industry, transport and commerce,
culture, education, science, and public health, as well as traditional
Chinese medicine, free medical services, sports, archives, earthquake,
ocean, communications, broadcasting, film, and television, family
planning, training of government cadres, party and mass organizations,
natural sciences, social sciences, and associations.
Wages, overtime pay, welfare funds, retiree pensions, stipends, expenses
for official business, equipment purchases, repair costs, business
expenses, and subsidies to units unable to cover their costs out of their
own income are some examples of these costs. Additionally included are
relief payments for social welfare as well as pensions for the disabled or
for the families of the deceased. The state budget provides funding for
retirees, social security system subsidies, employment promotion, and
supplemental contributions to the federal social security system.
Expenditures for national defense, administrative costs, policy-related
subsidies, interest on debts, revenue from the federal government and
local governments, tariffs, consumption taxes, and value-added taxes
levied by customs, consumption tax, income taxes of businesses under
the federal government's jurisdiction, income taxes of local banks, foreign-
funded banks, and non-bank financial institutions, business taxes, and
profits from railroads, as well as the cost of operating bank headquarters.
Business taxes, income taxes from companies that report to the local
government, the percentage of personal income taxes that the central
government will share (aside from interest income taxes), taxes on urban
land, taxes on adjustments to fixed asset investments, taxes on town
maintenance and construction, taxes on real estate, taxes on vehicles and
ships, stamp taxes, slaughter taxes, taxes on agriculture and animal
husbandry, and taxes on specie are just a few of the sources of revenue
for local governments. Spending by the central government includes
funding for the national defense, armed police forces, administrative costs,
various operating costs at the central government level, funding for major
projects, and adjustments to the national economic structure as well as for
coordinating regional development and exercising macroeconomic
