More subsidies to aid low-income families

(Xinhua)
Updated: 2008-01-30 11:56

The Chinese government will increase subsidies to low-income urban and rural families amid rising prices, said Wang Zhikun, an official with the Ministry of Civil Affairs (MCA), on Tuesday.

Related readings:
Pork price rise sows seeds for return to old business
Government price intervention legally based
Subsidized homes top priority of central govt
Farmers go on buying spree with appliance subsidy 

Govt to fund subsidies for rural household appliance purchase

The official said that the MCA and the Ministry of Finance would monitor the price situation and work out new policies in a timely manner. Some new policies were likely to be publicized before the Spring Festival, the traditional Chinese New Year, which falls on February 7.

In 2007, China's consumer price index went up by 4.8 percent, 3.3 percent higher than the previous year, according to official figures.

At the same time, central and local governments distributed 5.1 billion yuan ($698 million) in subsidies to low-income families.

Last year, the central government allocated three billion yuan to help local governments establish rural low-income insurance systems.


(For more biz stories, please visit Industry Updates)