In January, the local government expenditures of the Municipality amount to RMB 24.3 billion, RMB 14.28 billion or 142.6% higher than the previous year, in which the Municipal-level expenditures amount to RMB 11.24 billion, RMB 9.9 billion or 742% up from the previous year.

The growth of local government expenditures accelerates obviously, mainly because the government, pursuant to the Budget Law of the PRC and its implementation rules, while allocating the necessary expenditures for the regular operation of government organs and public institutions, also appropriates and pays fiscal allowance for endowment insurance and subsidies for including the aged people in the social security system, sets up special funds for the development of small and mid-sized trading enterprises and the development of service outsourcing, and guarantees the fund for the repayment of capital and its interests for infrastructure construction, so as to guarantee the expenditures of all major programs.