Figure 4: 1.35 trillion yuan

Original text from the report:

The government budget deficit for this year is projected to be 1.35 trillion yuan, an increase of 150 billion yuan over last year. The projected government budget deficit consists of 950 billion yuan of central government deficit and 400 billion yuan of provincial-level government debt in the form of treasury bonds issued by the central government on the provincial governments' behalf. The government deficit and national debt are increasing along with the growth in the overall economy. However, the deficit rate will be kept at 2.1%, which demonstrates continuity of our fiscal policy.

Comments: Zhu Baoliang, Director of the Economic Forecast Department of the State Information Center

China's economy still faces downward pressure, and enterprises are still facing difficulties. Proactive fiscal policies are required to further promote structural tax cuts, reduce the burden on enterprises, and increase spending in people's livelihood. A stable deficit is conductive to minimising risk.