Government Purchase to Surpass US$1.2mn This Year

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Last updated at: (Beijing Time) Monday, December 23, 2002

Government Purchase to Surpass US$1.2mn This Year

The Chinese government purchase will surpass ten million yuan or over 1.2 million US dollars in 2002 and in 2003 it will increase by 50 percent.

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The Chinese government purchase will surpass ten million yuan or over 1.2 million US dollars in 2002 and in 2003 it will increase by 50 percent.

Insiders say that the rapid growth of government purchase in recent years have brought important development opportunities for the national economy. Government purchase has also effectively promoted anti-corruption work. And the utilization of budget funds is also more efficient.

Starting from January first, China will formally implement Government Purchase Law. This is to ensure the government purchases are legally conducted.

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