China’s Fiscal Authorities Allocate over USD$10 Billion towards Containment of Coronavirus


Chinese fiscal authorities at all levels have allocated a copious volume of funds towards efforts to contain the spread of the novel coronavirus.

Finance minister Liu Kun (刘昆) said on 9 February said that financial departments at all levels of the Chinese government had arranged for 71.85 billion yuan (approx. USD$10.28 billion) in funds to contain the coronavirus, with real expenditures currently standing at 31.55 billion yuan.

“Financial departments must continue to effectively perform fund guarantee work, and ensure that the people do not refrain from seeking treatment due to concerns over expenses,” said Liu.

“[The government] must ensure that funding problems do not impact medical treatment and disease prevention work in any locations.”

Related stories

Bei­jing Calls for In­creased Use of Mo­bile Pay­ments Dur­ing Coro­n­avirus Out­break

PBOC Es­tab­lishes “Green Pipeline” for Is­suance of Bonds by Chi­nese Fi­nan­cial In­sti­tu­tions Dur­ing Coro­n­avirus Out­break

Chi­nese Cen­tral Bank Com­mits to 10 Bil­lion Yuan in Re­dis­counts in Q1 2020 amidst Coro­n­avirus Out­break