13 December 2021, Monday, 12:18 116

China's spending on education hits 5 trln yuan in 2020

Тимофій Борзенко

The education system in China. Photo by Xinhua.

China's spending on education totaled 5.3 trillion yuan ($831.3 billion) in 2020, up 5.69% from the previous year, the Ministry of Education said, The Xinhua News Agency reported.

Fiscal spending on the sector grew 7.15% year on year to around 4.3 trillion yuan in 2020, said the ministry, noting that the amount was 4.22% of China's GDP in the year.

With the figure, China's fiscal spending on education had accounted for no less than 4% of GDP for nine consecutive years.

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