Beijing designates 50m yuan in bookstore subsidies

Beijing, China's capital, has designated 50 million yuan ($7.2 million) in subsidies to 151 bookstores to support their development, authorities announced on Monday. 

As one of the measures to build Beijing as the cultural center of the country, the municipal government has been supporting bookstores' operations by investing funds or reducing their rents since 2016. 

In the past two years, the government has invested 36 million yuan in total to help operations at 140 bookstores. This year, it grew to 50 million yuan. 

Those bookstores include 94 bookstores in residential communities covering 16 districts in the capital. Up to 74 percent of the bookstores are in the downtown area. 

The authority will supervise the money's use to ensure it is spent on the development of the bookstores.