4. Budgets for Government-managed Funds
1) Budget for central government-managed funds
Revenue from central government-managed funds will total 299.035 billion yuan, down 4.3%. This figure includes 68.04 billion yuan from the railroad construction fund, 9.2 billion yuan from port development fees, 21.835 billion yuan from the civil aviation infrastructure development fund and airport administration and development fees, 34.92 billion yuan from lottery ticket proceeds, 23.48 billion yuan from the fund for providing ongoing aid to residents relocated to make way for the construction of large and medium-sized reservoirs, and 10.5 billion yuan from the central government fund for repaying rural power grid loans. Adding the 81.731 billion yuan of revenue carried forward from last year, total disposable revenue from central government-managed funds will be 380.766 billion yuan.
Expenditure from central government-managed funds will be 380.766 billion yuan, up 22.7%. This total consists of 249.733 billion yuan of central government spending, up 15.8%, and 131.033 billion yuan in transfer payments to local governments, up 38.4%. Expenditure at the central level includes 68.04 billion yuan on railroad construction; 6.444 billion yuan on port development; 13.408 billion yuan on civil aviation infrastructure development as well as airport administration and development; 31.951 billion yuan of lottery ticket proceeds used to finance social welfare, sports, education, and other public welfare programs; and 10.968 billion yuan to repay rural power grid loans through the central government fund.
2) Budgets for local government-managed funds
Revenue collected through local government-managed funds will reach 3.180641 trillion yuan, down 16.8%. This figure includes 2.701066 trillion yuan from the sale of state-owned land use rights (down 18.6%), 72.249 billion yuan from urban infrastructure construction fees, 30.441 billion yuan from lottery ticket proceeds, and 77.004 billion yuan from local education surcharges. Adding the 131.033 billion yuan in transfer payments from central government-managed funds, revenue from local government-managed funds will amount to 3.311674 trillion yuan.
Expenditure from local government-managed funds will come to 3.311674 trillion yuan, down 11.7%. This total includes 2.824105 trillion yuan from proceeds of the sale of state-owned land use rights, of which 1.941571 trillion yuan will be spent on compensation for land expropriation, housing demolition, and resident relocation; 153.492 billion yuan on developing and improving agricultural land, building rural infrastructure, and subsidizing farmers; 30.594 billion yuan on education; 29.797 billion yuan on building irrigation and water conservancy facilities; 62.489 billion yuan on low-income housing projects; and 606.162 billion yuan on urban development. Spending from local government-managed funds also includes 31.249 billion yuan from lottery ticket proceeds used to finance social welfare, sports, education, and other public welfare programs; 63.744 billion yuan from urban infrastructure construction fees; and 66.599 billion yuan of education spending from local education surcharges.
Combined revenue from funds managed by central and local governments will reach 3.479676 trillion yuan, down 15.9%. Adding the 81.731 billion yuan carried forward from last year, available revenue from government-managed funds will total 3.561407 trillion yuan. Expenditure from these funds will amount to 3.561407 trillion yuan, down 10.2%.
5. Budgets for State Capital Operations
1) Budget for the central government's state capital operations In 2012, the budget for the central government's state capital operations will be further expanded to include enterprises affiliated to some ministries and commissions, and more funds will be used to ensure and improve people's living standards.
Revenue from the central government's state capital operations will reach 84.4 billion yuan, up 10.3%. This figure includes 82.3 billion yuan of profits and 2 billion yuan of proceeds from the sale of state assets. Adding the 3.107 billion yuan carried over from last year, available revenue from the central government's state capital operations will total 87.507 billion yuan.
Expenditure on the central government's state capital operations will be 87.507 billion yuan, up 13.7%. Breaking it down, 8 billion yuan will be used for mergers and reorganizations of central government enterprises, 13.3 billion yuan for restructuring the state sector and industrial restructuring, 11 billion yuan to foster major scientific and technological innovations, 8 billion yuan for energy conservation and emissions reductions, 8 billion yuan to support enterprises in "going global," 22.5 billion yuan to subsidize the reform of enterprises, 4.5 billion yuan to develop emerging industries, 2.01 billion yuan from the sale of state-owned shares of enterprises to replenish the national social security fund, 5.197 billion yuan for other expenditures related to SOE reforms and development, and 5 billion yuan (up 25%) to be transferred to the public finance budget and used for social security and other areas related to ensuring people's living standards.
(2) Budgets for local governments' state capital operations
Revenue from local governments' state capital operations will total 40.249 billion yuan. This includes 20.898 billion yuan of profits, 7.62 billion yuan of dividends, 7.991 billion yuan from the transfer of state assets, and 3.602 billion yuan of other receipts from state capital operations.
Expenditure on local governments' state capital operations will amount to 40.249 billion yuan. Included in this sum is 3.046 billion yuan for mergers and reorganizations of enterprises, 16.698 billion yuan for restructuring the state sector and industrial restructuring, 2.811 billion yuan for spurring scientific and technological innovations and industrialization, 1.679 billion yuan for energy conservation and emissions reductions, 7.02 billion yuan for subsidizing the reform of enterprises, and 4.91 billion yuan for other expenditures.
Adding up central and local governments' budgetary appropriations, total revenue from state capital operations will be 124.649 billion yuan, and adding the 3.107 billion yuan carried forward from last year, disposable revenue will amount to 127.756 billion yuan. Total expenditure on state capital operations will reach 127.756 billion yuan.
Combining all budgetary appropriations for education from public finances and government-managed funds as well as other government outlays in this area, total government education spending will reach 2.198463 trillion yuan in 2012, which is over 4% of GDP.