Economy

Rural poor to get $52m subsidies to offset rising prices

(Xinhua)
Updated: 2010-12-01 20:35
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BEIJING -- China will give 350 million yuan (US$52.4 million) in subsidies to poor people in central and western China affected by rising prices, the Ministry of Finance (MOF) said Wednesday.

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Each of over 4.6 million childless and infirm rural seniors guaranteed food, clothing, housing, medical care and burial expenses will receive a monthly subsidy of no less than 20 yuan, the MOF said in a circular on its website.

The move aims to reduce economic pressures on needy people.

The subsidy will last until March 2011.

The government has adopted various measures since mid-November to boost agricultural production to combat the effects of inflation.

China's consumer price index (CPI) rose 4.4 percent in the 12 months through October, a 25-month high.