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    defici▓t of 750 billion yuan, which was the budgeted figure. ▓The outstanding balance on government bonds in the central b

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    udget at the end of 2009 was 6.023768 trilli▓on yuan, which was under budgeted ceiling of 6.270835 trillion yuan for the year. Central governme

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    nt tax rebates an▓d transfer payments made to local governments. In 2009, central government tax rebates and transfer payments made▓ to local govern

Move Forward terinarian Michael McC

ments totaled 2.86213 trillion yuan, 99.1% of the budgeted figure. This discrepancy was mainly due to less spending on disaster relief than estimated at t

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he▓ beginning of the year, resulting in a decrease in transfer▓ payments. This total consisted of 494.227 billion yuan of tax rebates, an increase of 48.2%, with the increases coming mainly from implementation of the reform of taxes and fees on refined oil products (according to re