China allocates 115mn yuan for flood aid and injects 100bn yuan into banking system for farming regions.

China allocates 115mn yuan ($16.1m) from Ministries of Finance & Emergency Management to aid 5 regions (Inner Mongolia, Heilongjiang, Shaanxi, Gansu, Ningxia) hit by rainstorms and floods since August. Funds to be used for relocation, hazardous infrastructure management, and secondary disaster identification. Central bank also injects 100bn yuan ($14bn) into banking system to support disaster-hit farming regions and facilitate autumn harvest as requested by Vice Premier Liu Guozhong.

August 18, 2024
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