Shenzhen's public budget revenue went up 3.9 percent to reach 978.9 billion yuan (US$150 billion) in 2020, Shenzhen Special Zone Daily reported Saturday, quoting information released at a year-end meeting.
Central budget revenue was 593.2 billion yuan, up 5 percent, while local budget revenue reached 385.7 billion yuan, an increase of 2.2 percent.
The city’s general public budget expenditure last year was 417.8 billion yuan. Nearly 9 billion yuan was spent on the virus fight last year, accounting for around 20 percent of the total expenditure on health care.
Preferential tax policies have helped market players reduce nearly 110 billion yuan in costs. The city raised 63.2 billion yuan by issuing bonds last year.
Nine categories of expenditure related to people’s livelihood reached 283.8 billion yuan, making up nearly 70 percent of the total fiscal expenditure.
Spending on education grew by 18.8 percent, ranking first among first-tier cities in the country.
In addition, an accumulative 123 billion yuan was used to treat water from 2016 to 2019. Last year, Shenzhen spent around 30 billion yuan in water treatment to ensure the city’s ability to eliminate blackened and putrid rivers as scheduled.