The scale of China’s government procurement registered a decline in 2022, down 3.9 percent year on year, the Ministry of Finance said on Monday.
Nationwide government procurement fell to about 3.5 trillion yuan (around 492.96 billion U.S. dollars) in 2022, the ministry said.
The figure accounted for 9.4 percent of the national fiscal expenditure and 2.9 percent of GDP.
The scale of procurement involving goods, engineering and services hit around 902.75 billion yuan, 1.57 trillion yuan and 1.03 trillion yuan, respectively, accounting for 25.8 percent, 44.8 percent and 29.4 percent of the total government procurement, according to the ministry.
