Chongqing- In 2021, Chongqing's fiscal revenue became more stable, basically returning to the level of 2019, before the pandemic, and more than 80% of the public budget expenditure is for improving its people's well-being, statistics show.
Recovery growth to the pre-pandemic year
In 2021, Chongqing's general public budget revenue came to 228.5 billion yuan (about 36 billion U.S. dollars), a year-on-year increase of 9.1 percent, with tax revenue and non-tax revenue increasing by 7.9 percent and 11.7 percent, respectively, according to Li Hong, Deputy Director of Chongqing Finance Bureau on a news conference on Wednesday.
In 2021, Chongqing's general public budget revenue came to 228.5 billion yuan (about 36 billion U.S. dollars). (iChongqing/Ran Zheng)
Nearly 60% of tax revenue is provided by value-added tax, corporate income tax, and individual income tax, up 3.7% points over the previous year.
This was mainly due to the steady economic growth brought by the recovery of industries, the unleashing of driving forces, and the improvement in corporate performance.
80% of the spending on people's well-being
In 2021, Chongqing's general public budget expenditure came to 483.5 billion yuan (76.24 billion U.S. dollars), completing 94.3% of the budget. The spending on improving people's well-being still accounted for about 80% of the total.
The spending on improving people's well-being accounted for about 80% of the total general public budget expenditure. (iChongqing/Ran Zheng)
Social security and employment expenditure remained steadily growing, amounting to 101.96 billion yuan (about 16.08 billion U.S. dollars), up 7.2%. 79.49 billion yuan (about 12.54 billion U.S. dollars) has been devoted to education expenditure, up 5.3%.
In terms of the social insurance fund budget, Chongqing's revenue totaled 254.6 billion yuan (about 40.15 billion U.S. dollars), 113.4%of the budgeted figure. This was mainly due to the expiration of the policy of reducing or exempting social insurance premiums for enterprises.
S&T innovation promotes
Expenditure on science and technology development has increased significantly, reaching 9.28 billion yuan (about 1.46 billion U.S. dollars), up 12.1% year on year.
Expenditure on science and technology development reached 9.28 billion yuan (about 1.46 U.S. billion dollars), up 12.1% yearly. (iChongqing/Ran Zheng)
With more focus on basic research, the expenditure rose by 14.9%.
Also, the money that has been used to support Chongqing's R&D was expected to account for 2.21% of the total.
In 2021, the contribution rate of scientific and technological progress reached 59.5%. The added value of high-tech manufacturing and strategic emerging industries grew by 18.1% and 18.2% respectively.
To establish large-scale scientific facilities and innovation platforms like the super-transient experimental facility and health care platform, during the 14th Five-Year Plan period, Chongqing will invest an additional 5 billion yuan (about 790 million U.S. dollars) in Western (Chongqing) Science City and Liangjiang Collaborative Innovation Zone.