China drafted a 900 billion yuan ($134.85 billion) deficit plan for 2011, a Caing.com report said Monday, citing an anonymous government official.
The plan, which will be submitted to the National People's Congress for approval in March next year, calls for the allocation of a 700 billion yuan ($104.88 billion) deficit for the central government and 200 billion yuan ($29.97 billion) for local governments.
And the report also said that there would be a 1 trillion yuan ($149.83 billion) financial revenue surplus for the whole of this year, which will provide a sound basis for next year's deficit.
