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Chinese government's 2014 procurement totals 1.7 trln yuan

Xinhua, July 30, 2015 Adjust font size:

China's government procurement rose 5.6 percent year on year to 1.73 trillion yuan (283 billion U.S. dollars) in 2014, narrowed from a 17.2-percent rise in 2013, the Ministry of Finance announced on Thursday.

The figure accounted for 11.4 percent of the country's fiscal expenditures, or 2.7 percent of GDP last year, said the ministry.

The ministry attributed the slowed growth to transparent and fair government procurement since the government's anti-graft campaign.

Government procurement for engineering projects increased 2.2 percent to 1.01 trillion yuan, compared with a 18.5-percent increase in 2013, as a result of the campaign to reduce bureaucracy and extravagance.

The frugality campaign also caused government procurement of work vehicles to drop 27.6 percent year on year, or 7.79 billion yuan, according to the ministry.

Government procurement last year also prioritized energy conservation and environmental protection projects and favored medium and small companies, said the ministry. Endi