Politics
China to distribute one-off financial aid to poorest, rare use of aid | World News
China said it would distribute one-off financial aid to the extremely poor by Tuesday, in a rare announcement of direct aid just a day after unveiling a sweeping package aimed at boosting the world's second-largest economy.
The Ministry of Finance and the Ministry of Civil Affairs will provide living subsidies to disadvantaged groups, including the very poor and orphans, ahead of the National Day holiday next week, state broadcaster CCTV reported Wednesday, without providing details.
Local authorities should ensure that the funds reach their intended recipients before October 1, the anniversary of the founding of the People's Republic, to show that the party and government love and care for those in need, the report said.
While the amount of the aid is unknown, the rollout of one-off aid in such a short period of time appears to be a departure for a government that has long avoided what President Xi Jinping calls handouts. The announcement came shortly after the country’s top monetary and financial officials unveiled a series of rate cuts and easing measures aimed at stemming the economic slowdown.
Meanwhile, the central government has ordered some social security benefits to be provided to college graduates who have not found a job two years after leaving school in a bid to boost employment, the official Xinhua news agency reported Wednesday, citing guidelines issued by the State Council, China's cabinet.
According to a government statement released in April, ministries have earmarked 154.7 billion yuan ($22 billion) for financial aid and subsidies for the extremely poor, orphans and homeless this year. The country had 4.74 million people living in extreme poverty as of June, according to the Ministry of Civil Affairs.
National Day is one of China's most important holidays, typically sparking mass travel and consumption. But a slumping real estate sector and a weak jobs market are weighing on spending, prompting some economists to call for more direct fiscal intervention to boost citizens' morale.
Huang Yiping, a member of the People's Bank of China's monetary policy committee, urged the government to boost spending to address weak consumption, in a rare criticism of China's economic policies earlier this year. Financial support for households would boost consumer spending, he said, while an excessive focus on fiscal health could hamper the economy.
The central bank surprised the market with its massive monetary stimulus package, and now the focus is on the Finance Ministry. More fiscal measures could be on the horizon in the coming days, with Xi Jinping's 24-member Politburo set to meet before the holiday week.
(Only the headline and image of this report may have been reworked by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First published: September 25, 2024 | 11:52 p.m. EAST
|
Sources 2/ https://www.business-standard.com/world-news/china-to-give-one-off-cash-handouts-for-poor-people-in-rare-use-of-aid-124092501433_1.html The mention sources can contact us to remove/changing this article |
What Are The Main Benefits Of Comparing Car Insurance Quotes Online
LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos
to request, modification Contact us at Here or [email protected]
 |
 |
 |
