MOF Distributes in Advance 2019 Budget Quotas for Special Funds for Local Scientific and Technological Development under the Guidance of the Central Government
The Ministry of Finance ("MOF") has recently issued the Circular on Distributing in Advance 2019 Budget Quotas for Special Funds for Local Scientific and Technological Development under the Guidance of the Central Government (the "Circular").
The Circular states that, 2019 budgets quotas for the special funds for local scientific and technological development under the guidance of the Central Government (Project Code: Z135050009017) are hereby distributed in advance to all provinces (autonomous regions and municipalities directly under the Central Government), and shall be itemized under the accounting title "206 expenditures for science and technology" and will be planned as a whole and used to finance the building of essential conditions and capacity for scientific research, platforms for innovations in specialized expertise, service agencies for scientific and technological innovations and startups, the exemplary scientific and technological innovation programs, among others, of each province (autonomous region or municipality directly under the Central Government). Such budget quotas shall be allocated and used under relevant procedures after the beginning of the fiscal year 2019. According to the 2019 Budget Quotas Distributed in Advance for the Special Funds for Local Scientific and Technological Development under the Guidance of the Central Government, affixed to this Circular, budget quotas distributed in advance this time total CNY887.88 million, among them, CNY28.35 million to Beijing, CNY11.90 million to Shanghai and CNY33.95 million to Guangdong.