China Announced Cash Payments for the Poor.
China Announced One-Time Cash Payments for Poor Population Groups
Chinese authorities announced that they will provide one-time cash payments to people living in extreme poverty. This rare initiative to provide direct aid comes just one day after the announcement of a large-scale economic stimulus program.
The Ministry of Finance and the Ministry of Civil Affairs will issue living subsidies to low-income population groups, including the very poor and orphans, by the national holiday that will take place next week.
Local authorities must ensure that recipients receive the funds by October 1. This will be a demonstration of the "party and government's love and care for the people who need it", noted the announcement.
At this moment, the amount of the payments remains unknown.
This year, Chinese ministries allocated 22 billion dollars for financial aid and subsidies for poor people, orphans, and the homeless. According to data from the Ministry of Civil Affairs, nearly 4.74 million people in the country live in extreme poverty.
Source: Economic Truth
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