Beijing Reduces “Three Public Expenditures” Budget by USD$42.48mn for 2018

The latest budget figures from China’s central government agencies points to a sharp reduction in “three public expenditures” (三公经费) for 2018.

The 2018 budgetary figures released by over 90 central government agencies indicate that their three public expenditures (referring to overseas trip expenses, vehicle purchase and transportation expenses, and official entertainment expenses) will be reduced by 267 million yuan (approx. USD$42.48 million) compared to the previous year.

A spokesperson from the ministry said that the budget for three public expenditures in 2018 would focus primarily on expenses required to support key national strategies such as the Belt and Road initiative and official trips, as well as participation in international sporting events.

Data from China’s Ministry of Finance indicates that the budget for three public expenditures by central government departments will be 5.88 billion yuan in 2018, as compared to 6.147 billion yuan in 2017.

Official spending in relation to three public expenditures came in short of the budgeted amount last year at 4.67 billion yuan.

 

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