China targets 2011 budget deficit of 2.0 pct of GDP
A vendor lifts a sack of lettuce onto his truck at an outdoor market in Beijing January 21, 2009. China will release fourth-quarter GDP data on Thursday, that economists say will show 7.0 percent growth, the slowest pace of expansion in nearly a decade for the world's third-biggest economy. Risk analysts working with the World Economic Forum listed a sharp decline in Chinese growth as one of the most significant and increasingly likely threats to the global economy. REUTERS

China will target a budget deficit of 900 billion yuan this year, or 2.0 percent of GDP, down from its target of 1.05 trillion yuan and 2.8 percent of GDP in 2010, the finance ministry said on Saturday.

In its budget, it also said that China's central and local governments would together aim for revenue growth of 8.0 percent and expenditure growth of 11.9 percent this year. Last year, revenues increased 21.3 percent and expenditures rose 17.4 percent, the ministry said.