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15 July 2015

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China to Increase Support for Poor Regions as Gov't Agencies Continue Frugality

2021-04-08 Download Print Comment
BEIJING, April 7 (Xinhua) -- China's government agencies will continue frugality measures during the country's 14th Five-Year Plan period (2021-2025), while the spending in less developed and poor regions will grow, an official with the Ministry of Finance said Wednesday.

China will make efforts to optimize the composition of government spending during the period, assistant finance minister Ou Wenhan told a press conference.

Government agencies will continue "tightening belts" and strictly curb general spending, and the country's central and western regions as well as other poor areas will receive bigger transfer payments, he said.

Financial resources will, to the maximum degree, percolate down to the country's primary levels to ensure livelihoods, salary and operations, he said.

Meanwhile, China will ramp up spending on science and technology and guide companies to invest more in research and development.

As China has recently eradicated absolute poverty and transitioned to rural vitalization, government support for this endeavor will be enhanced, he added. 

Source: Xinhua