China's capital offers $6 monthly handout to offset inflation. The public says it's not nearly enough | CNN Business

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المملكة العربية السعودية أحدث الأخبار,المملكة العربية السعودية عناوين

The move that has unexpectedly angered many online who say the amount is far too low.

The announcement from the city government comes as food inflation accelerated in China after policymakers scrapped their zero-Covid strategy in December and eased monetary policy further to fuel economic recovery. Last week, protests by retirees broke out in the cities of Wuhan and Dalian over cuts to their medical care benefits, highlighting the growing risk of unrest over livelihood issues as China’s economy struggles to regain its footing after being drained by pandemic policies.

“[We will] try to do a good job in ensuring the basic livelihood of the needy people … and continuously enhance the people’s sense of gain, happiness and security.” China launched a low-income subsidy program in 2011 to offer cash handouts to the needy when the consumer price index or food prices hit certain thresholds. Each city or region sets its own standard as living costs vary across the country.

 

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المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين

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