Results tagged “ministryoffinance”

To spread the Lunar New Year cheer, the central government has decided to distribute RMB9 billion worth of hongbao's (or red packets) to 74 million of the poorest residents in cities and villages as one-time disbursements meant to help them tide through the hard times. Villagers will receive RMB100 each, city dwellers RMB150 each, and those on state pensions/subsidies RMB180 each. All this money is coming straight from the Ministry of Finance and the central government has already given strict instructions to governments at all levels to disburse the monies in a "just, fair and transparent" manner.