BEIJING -- China's central government has distributed New Year subsidies to over 87 million needy people across the country, according to an official statement issued on Friday.

A total of 20.7 billion yuan ($3.3 billion) was distributed to the needy by Jan 21, two days ahead of the Chinese New Year, the statement said.

Jointly administered by civil affairs and finance authorities, the distribution was accomplished in a "timely, open and transparent" manner, the statement said.

The statement also disclosed the thresholds used to determine the subsidy amounts, which have doubled since last year. Urban residents covered by the minimum living standard program received 300 yuan each, while rural residents in the same program got 200 yuan apiece.

Those who receive state consolation funds, as well as elderly people who joined the Communist Party of China (CPC) before 1949 but are not covered by pension programs, received 360 yuan each, the statement said.

The central government has handed out such subsidies three times since 2009, the statement said.