Government Revenue and Expenditure Classification Subjects What are the functional classifications of expenditure

Economic Classification of ExpendituresThe economic classification of expenditures mainly reflects the economic nature and specific purposes of government expenditures. The economic classification of expenditures has two levels of categories and sections, and the subjects are set up as follows:

1. Salary and welfare expenditures. There are 7 sections: basic salary, allowances, bonuses, social security contributions, food expenses, food subsidies, and other salary and welfare expenditures.

2. Expenditures on goods and services. Subsection 30: office expenses, printing costs, consulting fees, fees, water, electricity, postage and electricity, heating costs, property management costs, transportation costs, travel expenses, overseas expenses, maintenance (care) costs, leasing costs, meeting costs, training costs, hospitality, special materials, equipment acquisition costs, engineering construction costs, combat costs, military fuel costs, the military other operation and maintenance costs, the purchase of uniforms, special fuel costs, labor costs, commissioning costs, trade union expenses, labor costs. , commissioned operating expenses, labor union expenses, welfare expenses, and other goods and services expenditures.

3. Subsidies to individuals and families. There are 12 sections: retirement, retirement, retirement (service), pensions, living allowances, relief expenses, medical expenses, scholarships, incentives, production subsidies, housing provident fund, rental subsidies, subsidies for the purchase of housing, and other expenditures on subsidies to individuals and families.

4. Subsidies to enterprises and institutions. Subdivided into 4 sections: enterprise policy subsidies, subsidies to institutions, financial subsidies, other subsidies to enterprises and institutions expenditure.

5. Transfer expenditures. Subdivided into 2 sections: transfer expenditures between different levels of government, the same level of government to ask transfer expenditures.

6. Gifts. There are 2 subsections: gifts to the country and gifts to foreign countries.

7. Debt interest expenses. Subdivided into 6 sections: interest payments on treasury bills, interest payments on borrowings from national banks, interest payments on other domestic borrowings, interest payments on borrowings from foreign governments, interest payments on borrowings from international organizations, and interest payments on other foreign borrowings.

8. Debt service payments. There are 2 sections: domestic debt service, foreign debt service.

9. Capital Expenditures. There are 9 sections: purchase and construction of buildings, purchase of office equipment, purchase of special equipment, purchase of transportation, infrastructure construction, large-scale repairs and maintenance, purchase and construction of information networks, material reserves, and other capital expenditures.

10. Other capital expenditures. There are 9 sections: purchase and construction of buildings, purchase of office equipment, purchase of special equipment, purchase of transportation, infrastructure construction, large-scale repairs, purchase and construction of information networks, material reserves, and other capital expenditures.

11. Loan transfer and equity participation. Subdivided into six sections: domestic loans, foreign loans, domestic transfer loans, foreign transfer loans, equity participation, other loans and equity participation in the loan expenditures.

12. Other expenses. There are five sections: reserve, reservation, supplement to the National Social Security Fund, unclassified project expenditures, and other expenditures.

Response time: 2021-02-25, please refer to the announcement on the official website of Ping An Bank for the latest business changes.

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