Shenzhen has spent nearly 70 percent of its expenditure improving the well-being of its residents in 2020, which totaled 283.8 billion yuan (US$43.9 billion), according to a report of Shenzhen Special Zone Daily yesterday, quoting a source from the Shenzhen Municipal Finance Bureau.
Statistics showed the general public budgetary revenue grew by 3.9 percent to reach 978.9 billion yuan in 2020. It includes 593.2 billion yuan revenue at the central level, up by 5 percent year on year, and 385.7 billion yuan revenue at the local level, up by 2.2 percent. The city’s general public budget expenditure in the well-being of residents was brought to 283.8 billion yuan, making up nearly 70 percent of the total expenditure.
Among the nine categories of expenditure on residents’ well-being, expenditure on education, healthcare, housing and transportation rose by 18.8 percent, 31.3 percent, 326.1 percent and 37.9 percent respectively.
To encourage innovation in science and technology, the city arranged 13.4 billion yuan in research funds, doubling the amount in 2018. To be specific, 37 percent was injected into basic research and applications.
For the whole year, the city spent 8.77 billion yuan on COVID-19 prevention and control and unveiled a package of 16 measures to relieve the burden of enterprises.
2020 was the last year of the city’s 13th Five-Year Plan. Between 2016 and 2020, the city’s general public budgetary revenue accumulatively reached 4.48 trillion yuan, up by 71 percent over the 12th Five-Year Plan period. The revenue at the local level between 2016-2020 was 1.76 trillion yuan, up by 88 percent over the period of 2011-2015.