Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Silk Road
Economy

China spends 400 bln yuan on fighting COVID-19

January 21, 2021


Abstract : China spent more than 400 billion yuan (61.73 billion U.S. dollars) of fiscal funds on fighting COVID-19 by the end of November 2020, the Ministry of Finance said.

BEIJING, Jan. 20 (Xinhua) -- China spent more than 400 billion yuan (61.73 billion U.S. dollars) of fiscal funds on fighting COVID-19 by the end of November 2020, the Ministry of Finance said.

The fiscal system has given top priority to funds for fighting COVID-19 so that people will not be deterred by the cost of medical treatment, said Finance Minister Liu Kun in an online speech released Wednesday. Due to the availability of funds, Liu added, local governments will not be hampered by the cost of medical treatment and epidemic control.

Facing remarkable challenges in 2020, the fiscal system has explored ways to mitigate the impact of the pandemic on the economy, Liu said.

China set a 2020 fiscal deficit of at least 3.6 percent of GDP, up from the previous year's 2.8 percent. It has issued 1 trillion yuan of government bonds for COVID-19 control to release more funds for companies and individuals. Enditem

Scan the QR code and push it to your mobile phone

Keyword: China COVID-19

Reading:

Vice premier stresses consolidating poverty alleviation achievements

China Focus: Tibet's GDP grows 7.8 pct in 2020

China's Sichuan reports record-high foreign trade volume in 2020

China to toughen supervision of non-bank payment institutions

China's agricultural product wholesale prices edge up

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial