Low-income people in China will receive government help if inflation is too high and lasts too long, according to a joint statement released by five ministries.
Local governments should link social assistance for low-income residents with the consumer price index (CPI), a key gauge of inflation, said the document. It was jointly issued by the National Development and Reform Commission, ministries of civil affairs, finance, human resource and social security, as well as the National Bureau of Statistics, on January 31.
Temporary help will be given to the needy when CPI rises 3 to 4 percent or the grain price increases by 10 percent on a year-on-year basis for three consecutive months. Local governments should set the threshold according to regional conditions.
The mechanism will be managed by provincial- or city-level governments and the amount will be calculated monthly and distributed quarterly, the document said.
It added that the subsidy will be included in local governments' fiscal budget and the Central Government will enhance financial support for the low-income community. |