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BEIJING, June 29 (Xinhua) -- China's government procurement1 amounted to 1.13 trillion yuan (179.37 billion U.S. dollars) in 2011, or 11 percent of the country's fiscal2 expenditure3, the Ministry4 of Finance announced on Friday.
The figure showed a huge expansion from the 100.9 billion yuan of 2002, when a government procurement law was first adopted, Vice5 Minister of Finance Wang Baoan said at a ceremony celebrating the 10th anniversary of the law's introduction.
The implementation6 of the law has helped save 660 billion yuan in fiscal spending over the past decade, according to Wang.
The vice minister said the government will push administrative7 reforms to make its purchase more transparent8, fair and effective, while improving related operations and supervision9 systems to promote the credibility of government procurement.
He also pledged to further restructure government procurement mechanisms10 in accordance with the Government Procurement Agreement (GPA) rules, to gradually open the sector11.
The GPA is a voluntary pact12 within the World Trade Organization that allows member countries to bid for public contracts in each other's markets.
China entered its first offer to join the pact in 2007, but it was turned down as the offer did not include local governments' spending.?
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1 procurement | |
n.采购;获得 | |
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2 fiscal | |
adj.财政的,会计的,国库的,国库岁入的 | |
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3 expenditure | |
n.(时间、劳力、金钱等)支出;使用,消耗 | |
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4 ministry | |
n.(政府的)部;牧师 | |
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5 vice | |
n.坏事;恶习;[pl.]台钳,老虎钳;adj.副的 | |
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6 implementation | |
n.实施,贯彻 | |
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7 administrative | |
adj.行政的,管理的 | |
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8 transparent | |
adj.明显的,无疑的;透明的 | |
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9 supervision | |
n.监督,管理 | |
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10 mechanisms | |
n.机械( mechanism的名词复数 );机械装置;[生物学] 机制;机械作用 | |
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11 sector | |
n.部门,部分;防御地段,防区;扇形 | |
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12 pact | |
n.合同,条约,公约,协定 | |
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