China Pours Money Into Schools to Keep the Funding Above 4% of GDP
Zhang Yushuo
/SOURCE : Yicai
China Pours Money Into Schools to Keep the Funding Above 4% of GDP

(Yicai Global) Oct. 16 -- China increased its public spending on education last year to keep up with its dedication and provide schooling to its youth across the board. The earmarked sum has been over 4 percent of the gross domestic product for six consecutive years.

State budget used to run schools rose 9 percent to CNY4.25 trillion (USD614 billion) from the year before, the country's education ministry, the National Bureau of Statistics, and the finance ministry said in a joint statement yesterday.

Some 80 percent of the sum was fiscal expenditure, the amount of which rose 9 percent. With CNY3.4 trillion, this was over 4.1 percent of the country's gross domestic product.

Educational spending in China's general public budget increased 8 percent to CNY3 trillion. From this sum, the central budget covered over 15 percent, which was 5 percent more than last year.

The country raised its spending particularly in the categories of teaching and facilities in high schools with a 12 percent increase per each student, while other levels of education received 7 percent to 9 percent more in these types of funds.

Money was poured mostly into the Tibet Autonomous Region which was the fastest to grow at a 49 percent clip, followed by central Henan province with a 27.4 percent increase, and Beijing with its 26.6 percent.

Funds used for utilities and general operations rose mostly in middle schools at a rate of 6.5 percent. The southwestern region of Tibet got most of the limelight with its 63 percent jump in the amount of money allocated per pupil.

Editor: Emmi Laine 

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Keywords: Education , Funds