The Chinese government is projecting a fiscal deficit of 1.2 trillion yuan (191 billion U.S. dollars) for 2013, 400 billion more than the budgeted figure last year, according to a government work report to be delivered by Premier Wen Jiabao Tuesday.
The deficit consists of a central government deficit of 850 billion yuan and 350 billion yuan in bonds to be issued on behalf of local governments, the report said.