China to Provide One-Time Financial Aid to Those in Need, Reports Reuters

China is set to provide a one-time financial assistance to vulnerable groups in advance of a national holiday, according to a government announcement.

While the exact amount of the allowances has not been disclosed, the government stated that the funds will benefit extremely poor individuals, orphans, and those in challenging situations. The support is scheduled to be disbursed prior to October 1, when China will commence a week-long public holiday celebrating the 75th anniversary of the People’s Republic of China.

Authorities called for local civil affairs and finance departments to give this initiative “great importance” and ensure timely distribution, emphasizing that this effort reflects the “concern and care” of the Chinese Communist Party and the government for those in need.

Additionally, on the same day, China’s cabinet released guidelines aimed at enhancing high-quality employment and ensuring sufficient job opportunities. The guidelines stress the importance of prioritizing employment and improving reasonable wage growth in response to recent pay cuts and rising youth unemployment.

In recent days, the world’s second-largest economy has introduced some of its most proactive measures to bolster economic support.