By LI Linxu

China's fiscal policy in 2023 will focus on expanding consumption, advancing sci-tech self-reliance and self-strengthening at higher levels, invigorating enterprises, and promoting green and low-carbon development, according to this year's draft budget report submitted to the National People's Congress.

Over the past five years, China continued to improve the structure of government spending, and ensured sufficient funding in key areas such as education, sci-tech, environmental protection, and efforts to meet people's living needs, according to this year's government work report.

The picture shows a Long March-2D carrier rocket blasting off from the Jiuquan Satellite Launch Center on Jan. 13, 2023. (PHOTO: XINHUA)

Of particular note is that in 2022, the national general public budgetary expenditure on sci-tech surpassed 1 trillion RMB, up 3.8 percent year-on-year, said Liu Kun, minister of finance, at a recent press conference, adding that the spending provides a strong guarantee to meet the funding needs of basic research and breakthroughs on key core technologies.

Among the total, the central government's spending on sci-tech reached about 320 billion RMB in 2022, while the amount of 2023 is projected to be higher.

The increase reflects the importance of sci-tech in the country's future development. More efforts will be made to elevate the country's sci-tech innovation capabilities, said the draft budget report, pledging that the central government's spending on basic research will rise further.

Meanwhile, it vowed to further reform the allocation and utilization mechanisms of government funding for sci-tech research, and would grant scientists a greater say in determining technological roadmaps and how funds are spent.

International sci-tech cooperation will also be strengthened, according to the draft budget report, adding that a fund management mechanism will be explored to suit the characteristics of international big science programs and projects.