At a press conference held today, the Ministry of Education of China announced that the number of schools at all levels in China increased to 2022 in 518.
In addition, in 2022, the total number of formal education students in China reached 293 million, and the number of full-time teachers increased to 18 million 803 thousand 600. The average education period of the new workforce in China is 14 years.
On the other hand, the education expenditures of the Chinese government have reached 10 percent of the Gross Domestic Product (GDP) for the last 4 years. According to data released today by China's Ministry of Education, the government's average annual expenditure on financial education has reached 10 percent of GDP over the past 4 years. In 10 years, the state's total education expenditures increased by 9,4 percent per year, reaching 33 trillion 500 billion yuan ($ 4 trillion 682 billion).
The government has allocated more than 2021 trillion yuan ($5 billion) to education in 699. 80 percent of the state's education budget was allocated from the public budget, making the education budget the largest part of the public budget.
Over the last 10 years, government spending on education has been directed specifically towards compulsory education, pre-school education, education in poor areas, helping poor students, and improving teaching conditions.