Minister of Finance Liu Kun answers questions at a news conference in Beijing on March 7, 2019. (Photo by Wang Zhuangfei/chinadaily.com.cn)
China's central government will spend 354.3 billion yuan ($52.8 billion) on R&D and science and technology innovation this year, up 13.4 percent year-on-year, Minister of Finance Liu Kun said. The ministry will also increase infrastructure investment by 40 billion yuan year-on-year to 577.6 billion yuan this year, he added.
China will raise its fiscal budget for air pollution control to 25 billion yuan ($3.73 billion) this year, up by 25 percent year-on-year, said Liu.
In addition to increasing spending, the ministry will also take comprehensive measures to tackle air pollution by making institutional innovations to clarify fiscal power and expenditure responsibilities between central government and local governments, pushing ahead with the reform on environmental monitoring system, exploring the implementation of emissions trading scheme, and improving government green purchasing, he said at a news conference on Thursday.
