App

China issues 6.6b yuan in subsidies to offset price hike amid COVID-19
Updated: April 10, 2020 21:52 Xinhua

BEIJING — China has issued over 6.6 billion yuan (about $937.5 million) worth of price-linked temporary monthly subsidies since the COVID-19 outbreak to ensure the well-being of those living in difficulties, the National Development and Reform Commission (NDRC) said on April 10.

Temporary monthly subsidies in relation to price increase have so far totaled 16.5 billion yuan, said NDRC official Peng Shaozong at a press conference.

To mitigate inflation-induced impacts on those living in difficulties, the NDRC also decided to double the temporary monthly subsidy from March to June and expand its coverage to benefit additionally eight million people.

The central government announced on March 31 that the temporary monthly subsidy would be doubled under the mechanism of raising social benefits pro rata with the price increase, as part of efforts to intensify support for the livelihood of low-income groups amid the COVID-19 epidemic.

China's consumer price index, a main gauge of inflation, rose 4.3 percent year-on-year in March, moderating from the 5.2-percent growth in February, official data showed.

Copyright© www.gov.cn | About us | Contact us

Website Identification Code bm01000001 Registration Number: 05070218

All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to www.gov.cn.

Without written authorization from www.gov.cn, such content shall not be republished or used in any form.

Mobile

Desktop

Copyright© www.gov.cn | Contact us

Website Identification Code bm01000001

Registration Number: 05070218