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

  • 📰 cnni
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 59%

United States News News

United States United States Latest News,United States United States Headlines

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 326. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

After a steep fall, used car prices poised to rise again | CNN BusinessThe price of used cars has been falling steadily, and steeply, for much of the last year. Unfortunately for car buyers, that could be about to change. It's all Bidens fault...oh wait 🤔 How long will you protect your staff?🤔 Because leftism and their policies are making used cars a premium.
Source: CNN - 🏆 4. / 95 Read more »

New online superstore surpasses Amazon and Walmart to become most downloaded app in US | CNN BusinessA new online shopping platform linked to one of China's top retailers has quickly become the most downloaded app in the United States, surpassing Amazon and Walmart. Now it's looking to capitalize from an appearance on America's biggest stage. Huh, new to me... Competition is good Temu, selling you the crap b4 the $1 stores do
Source: ALNewsNetwork - 🏆 583. / 51 Read more »

Here are the US cities where home prices are actually falling | CNN BusinessSan Jose, California, was the most expensive place to purchase a home in the United States in the fourth quarter. But that median price of $1,577,500 is actually down 5.8% from a year ago. 1.5 mill in Florida gets you an Awesome Home and no state taxes. But we have an many Insurrectionists living here and a KKK Grand Wizard for Governor. It's definitely a seller's market. Unfortunately, the housing market is pricing most people out of being able to purchase a house. Renting a house or even an apartment these days is insanely expensive as well. Homelessness is going to sky rocket if it hasn't already. Not good. Because everybody is moving to Texas and Florida! Where states are actually ran by sensible people.
Source: CNN - 🏆 4. / 95 Read more »