China increases gov't procurement in 2020: ministry

CGTN
Government procurement in China rose 11.8 percent last year as it played an increasing role in supporting economic and social development, showed data from the Ministry of Finance.
CGTN

Government procurement in China rose 11.8 percent last year as it played an increasing role in supporting economic and social development, showed data from the Ministry of Finance (MOF).

The value of national government procurement reached 3.7 trillion yuan (about US$572.5 billion) in 2020, the MOF data showed.

The amount accounted for 10.2 percent of the national fiscal spending and 3.6 percent of China's economic output.

Government purchase has aided the development of green industries, small businesses and poor regions, according to the ministry.

Micro, small and medium-sized enterprises signed contracts worth 2.8 trillion yuan in government purchase last year, accounting for 75.5 percent of the total purchase value, the data showed.

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