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Chinese government allocates 117 billion yuan for epidemic control
update:March 16,2020
March 16,2020 -- Chinese governments at all levels have allocated a combined 116.9 billion yuan (16.7 billion U.S. dollars) of funds for epidemic prevention and control as of Friday, a finance ministry official said Saturday.
While continuing efforts to stem the spread of the novel coronavirus, the Chinese government has rolled out a raft of measures to cushion the impact of the epidemic on the economy, Fu Jinling, an official at the Ministry of Finance said a press conference.
By the end of Friday, the virus has infected 80,824 people and killed 3,189 on the Chinese mainland, according to official figures. The government's first-quarter fiscal revenue suffered an interim impact from the outbreak, as it has taken massive tax and fee cuts to support economic growth.
However, Fu said China's economy has great potential and resilience, and the size of its fiscal income remained large, allowing plenty of room for fiscal revenue adjustment.
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