Page 8 - REPORT ON THE EXECUTION OF THE CENTRAL AND LOCAL BUDGETS FOR 2021 AND ON THE DRAFT CENTRAL AND LOCAL BUDGETS FOR 2022

premiums at the end of 2020, and 10.6% growth in government subsidies to 2.3248
trillion yuan. Expenditure of social insurance funds nationwide totaled 8.787629

trillion yuan, representing 101.7% of the budgeted figure and an increase of 12.1%.
The social insurance fund surplus for 2021 was 685.845 billion yuan, which was
rolled over to make the year-end balance 10.139509 trillion yuan.

Revenue of the central government social insurance fund was 144.644 billion
yuan, representing 93.3% of the budgeted figure. Expenditure of the central

government social insurance fund was 142.97 billion yuan, representing 90.5% of
the budgeted figure. The central regulation system for enterprise employees’ basic
old-age insurance funds was put into effect, with 930.362 billion yuan allocated by

local governments for central regulation, and 929.452 billion yuan appropriated by
the central government. There is a 910 million yuan difference between the figure

allocated by local governments and the figure appropriated by the central
government, mainly because the Xinjiang Production and Construction Corps was
subjected to local regulation though its revenue and expenditure were included in
central budget, and interest of central regulation funds was allocated. Taking this

factor into consideration, the year-end balance was 40.324 billion yuan after the
central government social insurance fund surplus for 2021 of 2.584 billion yuan

was rolled over.
Revenue and expenditure of local government social insurance funds were

9.32883 trillion yuan and 8.644659 trillion yuan, respectively. Taking regulatory
factors into account, the year-end balance was 10.099185 trillion yuan after the
surplus for 2021 of 683.261 billion yuan was rolled over. Provinces in central and

western regions and where old industrial bases are located benefited from the
allocation of these funds to the sum of 215.2 billion yuan.

At the end of 2021, outstanding central government debt was 23.269729 trillion
yuan, within the budgeted limit of 24.050835 trillion yuan approved by the NPC.

Outstanding local government debt totaled 30.470031 trillion yuan, which included
13.770864 trillion yuan of general debt and 16.699167 trillion yuan of special debt.
This figure was also within the NPC-approved budget limit of 33.27743 trillion
yuan.

5. Implementation of the main fiscal and tax policies and other major fiscal work in
2021

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