China spends $15.6 billion to prevent spread of coronavirus

Workers with sanitizing equipment disinfect at the Shanghai railway station in Shanghai, China, February 27, 2020 (Reuters)

Chinese governments of every level had allocated a total of 108.75 billion yuan ($15.58 billion) in special funds by March 2 to prevent the spread of the coronavirus epidemic, a finance ministry official said on Tuesday.

Fu Jinling, head of the social insurance division of the Ministry of Finance, also said China had provided enterprises with 1 trillion yuan in social insurance payment relief this year to support the resumption of production.

He said China is aiming to cut the total tax burden on enterprises by 510 billion yuan this year, and was also allowing firms in the virus-stricken province of Hubei to waive insurance payments for five months.

Last Update: Tuesday, 03 March 2020 KSA 12:19 - GMT 09:19