The central government spent 7.43 billion yuan ($1.19 billion) on banquets, vehicles and overseas trips last year, down about 20 percent from the previous year, a government report said on Thursday.

It was also 559 million yuan less than the budgeted figure, said the State Council's report on the central government's final accounts for 2012.

Nearly 55 percent of the total expenditures in 2012 were for purchasing and maintaining vehicles, totaling 4.07 billion yuan, 281 million yuan less than the budgeted figure.