CHINA China allocated $15.6 billion in epidemic prevention funds by March 2

CHINA

China allocated $15.6 billion in epidemic prevention funds by March 2

CGTN

18:52, March 03, 2020

China had allocated a total of 108.75 billion yuan (15.58 billion U.S. dollars) in special funds by March 2 for the prevention and control work of the novel coronavirus, Fu Jinling, an official with the Ministry of Finance, told a press conference Tuesday.

5e8b312f2df4446992c6dd8f89cbd4f2.jpg

File photo: CGTN

Fu also said that China had provided enterprises with 1 trillion yuan (143 billion U.S. dollars) in social insurance payments relief this year to support the resumption of production.

China will cut the total tax burden on enterprises by 510 billion yuan (73.07 billion U.S. dollars) in 2020, and is also allowing firms in the virus-stricken province of Hubei to waive insurance payments for five months.

China is encouraging the production of key medical protective materials, such as N95 masks and protective clothing.

Related Stories

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue