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State TV in China reported that Ministry of Finance and Ministry of Civil Affairs will issue living subsidies to disadvantaged groups before the National Day holiday next week.
- local authorities should ensure the funds reach their target recipients before October 1 (Oct 1 is the anniversary of the founding of the People’s Republic of China)
- to show “the party and the government’s love and care for people in need”
- “disadvantaged groups” include the very poor and orphans
The amount of the handouts wasn’t detailed.
The thing about handouts to those in more need than others is to tends to get spent quickly. This’ll be a more or less immediate boost to the economy.
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Holidays coming up in China:
Pic is a screenshot from timeanddate.com
This article was originally published by Forexlive.com. Read the original article here.