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Beijing

Rural housing fund to grow by 5b yuan

China plans to spend an additional 5 billion yuan ($783 million) to renovate substandard rural housing in earthquake-prone areas, the Ministry of Finance said on Wednesday. The pledged funds came after a 31.5 billion yuan budget was dedicated to renovating dilapidated houses in rural areas, bringing total subsidies to 36.5 billion yuan. The spending will benefit 4.32 million rural families.