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MNI BRIEF: China To Release Childcare Subsidies, Boost Income

MNI (BEIJING) - Chinese authorities are set to release plans for childcare subsidies, as well as increasing incomes of low-income rural populations, in a bid to boost consumption, Li Chunlin, deputy director of the National Development and Reform Commission, told reporters on Monday.

The central government will allocate CNY66.74 billion employment subsidies, support pension growth, raise public health service level and increase spending on education, so to boost consumers’ spending capacity, said Fu Jinling, director of the Department of Economic Construction of the Ministry of Finance, at the same presser. (See MNI: China Borrowing Plan Keeps Policy Space Given Trade Risks

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MNI (BEIJING) - Chinese authorities are set to release plans for childcare subsidies, as well as increasing incomes of low-income rural populations, in a bid to boost consumption, Li Chunlin, deputy director of the National Development and Reform Commission, told reporters on Monday.

The central government will allocate CNY66.74 billion employment subsidies, support pension growth, raise public health service level and increase spending on education, so to boost consumers’ spending capacity, said Fu Jinling, director of the Department of Economic Construction of the Ministry of Finance, at the same presser. (See MNI: China Borrowing Plan Keeps Policy Space Given Trade Risks

Keep reading...Show less