From Jan. to Sept. 2012, the local government expenditures of Shanghai Municipality amount to RMB 270.13 billion, up 16.8% in annual terms, and accounting for 65.5% of the budget spending goal for 2012.

This year, the key targets of government spending include: 1. the national drive to stabilize economic growth, transform the mode of economic growth, and adjust the economic and industrial structure; 2. social development programs, especially to improve the livelihood of the people; and 3. sustainable development in both the urban and rural areas, and these targets have been very well met.