CHINA Govt raises subsidy by 10b yuan to help rural vitalization

CHINA

Govt raises subsidy by 10b yuan to help rural vitalization

chinadaily.com.cn

14:15, March 05, 2021

Bamu Yubumu enjoys leisure time with her children at home in Yuexi county of Liangshan Yi autonomous prefecture in Southwest China's Sichuan province, Feb 16, 2021. [Photo/Xinhua]

China's fiscal support will remain stable in a transitional period from poverty alleviation to rural vitalization, with a newly-established subsidy in the central government's annual budget, said Finance Minister Liu Kun on Friday.

The subsidy reaches 156.1 billion yuan ($24.12 billion), which is 10 billion yuan more than the special funds for poverty alleviation last year, Liu said at a news conference during the two sessions on Friday.

The transfer payment of fiscal funds will focus on areas that are just out of poverty and to help key counties in the rural vitalization strategy, he added.

The ministry will attach great importance to the effective transfer from poverty alleviation to rural revitalization, by consolidating and expanding the previous achievements, Liu said.

"We should keep efforts that help low-income rural residents as normalized measures, as well as to monitor and prevent risks of returning to poverty."

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