The Chinese government will be giving small cash gifts to some 74 million citizens before Chinese New Year. From Reuters, via MSNBC:
China will give its neediest citizens hand-outs of up to 180 yuan ($26) to brighten their mood before the Chinese New Year, a usually festive occasion that has been marred by the economic downturn.
The Ministry of Finance, which announced the one-off payment totaling some $1.3 billion on its website Friday, also said the money would help stimulate domestic consumption, Beijing’s overarching goal as it seeks to revive the once-roaring economy.
The pay-outs ranging from 100 to 180 yuan would mainly go to laid-off workers and veteran Communist Party members living in straitened circumstances. Overall, the government said it would distribute 9 billion yuan to about 74 million citizens.
