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Revenue in local governments' general public budgets came to 8.298266 trillion yuan, an increase of 4.8%. Adding in the 5.5181 trillion yuan in tax rebates and transfer payments from the central government, revenue in local governments' general public budgets totaled 13.816366 trillion yuan. Adding in the additional 705.512 billion yuan of utilized carryover and surplus funds and funds transferred from other sources, local government revenue totaled 14.521878 trillion yuan. Expenditures in local governments' general public budgets came to 15.021878 trillion yuan, up 13.2% (or an increase of 7.9% after deducting utilized carryover and surplus funds and funds transferred from other sources). Total expenditures therefore exceeded total revenue leading to a local government deficit of 500 billion yuan, which is consistent with the budgeted figure.

Sri Lanka, formerly known as Ceylon, won independence on Feb. 4, 1948. It was renamed the Democratic Socialist Republic of Sri Lanka in 1978.

The military must be steadfast in their allegiance to the Communist Party of China (CPC) and follow the Party to win the final victory in the ongoing fight against corruption, said Xu.

The leadership also pledged it would speed up the development of modern agriculture and push forward a new round of high-level opening-up. Green development will also be made a priority, they added.

INCREASED DEFICIT "PRUDENT, WISE"