China to give one-off handouts to needy

investing.com 26/09/2024 - 03:17 AM

China to Distribute One-Time Allowance to Disadvantaged Groups

BEIJING (Reuters) – China will distribute a one-time allowance to disadvantaged people ahead of a national holiday next week, according to a government statement.

The value of the handouts was unspecified, but the statement released late on Wednesday indicated that the plan aims to provide cash to extremely poor individuals, orphans, and those facing difficulties.

The allowances are expected to be paid out before October 1, coinciding with the start of a week-long public holiday celebrating the 75th anniversary of the founding of the People’s Republic of China.

The government urged regional civil affairs and finance departments to treat the initiative with “great importance” and ensure timely distribution, emphasizing the scheme as a demonstration of the “concern and care” from the Chinese Communist Party and government for those in need.

Additionally, on the same day, China’s cabinet released guidelines aimed at promoting high-quality and sufficient employment, committing to prioritize job creation and reasonable salary growth in response to significant pay cuts and rising youth unemployment. This week, the world’s second-largest economy announced some of its most aggressive measures to support the economy.




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