China's national revenue exceeded 2trillion yuan for the first time to reach 2.1691trillion yuan in 2003,said Minister of Finance Jin Renqing Saturday at the Second Session of the Tenth National People's Congress (NPC).

The central and local budgets were implemented fairly well lastyear despite a complex and volatile international situation,the unexpected outbreak of the severe acute respiratory syndrome (SARS)and frequent natural disasters,Jin told the national legislature.

National revenue,excluding revenue from generation of debt,was 278.7billion yuan or 14.7percent more than the previous year and 105.8percent of the budgeted figure,the minister said in a report on the implementation of the central and local budgets for 2003and on the draft central and local budgets for 2004.

National expenditures totaled 2.4607trillion yuan,an increaseof 255.4billion yuan or 11.6percent year-on-year and 103.8percent of the budgeted figure.Expenditures exceeded revenue by 291.6billion yuan.

Total revenue in the central budget amounted to 1.2465trillionyuan after allowing for the additional 82.9billion yuan used in export tax rebates,up 109.3billion yuan or 9.6percent over the previous year and 104.4percent of the budgeted figure.

Total expenditures in the central budget came to 1.5663trillion yuan,including 824billion yuan in tax rebates and subsidies for local authorities,119.5billion yuan or 8.3percentmore than the previous year and 103.5percent of the budgeted figure.The deficit in the central budget was held to 319.8billion yuan as approved at the First Session of the Tenth NPC,the minister said.