SINGAPORE: China’s government has announced a rare one-off cash handout to those living in extreme poverty, a day after unveiling sweeping measures to boost the country’s struggling economy.
The subsidies will be distributed to disadvantaged groups, which will include orphans and the poor, China’s Ministry of Civil Affairs said in a statement issued on Wednesday (Sep 25).
Local governments should ensure that funds reach those in need before Oct 1 to show “the party and government’s love and care for people in need”, the ministry statement added.
The statement did not mention how much each person would receive or how much the move would cost the Chinese government.
This week, China unveiled a massive stimulus package that would inject about 1 trillion yuan (US$142 billion) of long-term liquidity into the country’s struggling financial market. On Tuesday, China’s central bank chief Pan Gongsheng outlined plans to further support the property market, which included cutting interest rates on mortgages.
The announcement also comes ahead of China’s National Day, marked annually on Oct 1.
Reaction to the news has been largely positive across Chinese social media.
On the popular Sina Weibo microblogging site, Wang Shacheng, an Associate Professor at the Central University of Finance and Economics in Beijing, said the one-off handouts were an “important measure” in improving the people’s livelihoods.
“Not only does this reflect the Party and the Government’s deep concern for those in need, but it is also an important measure to protect and improve the people’s livelihoods,” he wrote.
However, some Weibo users expressed concerns about the financial aid not reaching those in need. “We should be careful that the aid does not fall into another person’s wallet,” the user said.
Others voiced fears that the aid would be pocketed for personal use by corrupt government officials.
https://www.channelnewsasia.com/east-asia/china-announces-one-cash-handout-extreme-poverty-stimulus-measures-economy-4639496
