China Allocates $11.5 Billion to Combat Coronavirus

The Chinese authorities have allocated 80.5 billion yuan (approximately $11.5 billion) to combat the novel coronavirus. This was announced by the country’s Deputy Finance Minister Ou Wenhan at a press conference in Beijing on February 14.

“As of February 13, financial institutions at all levels have collectively allocated 80.5 billion yuan (about $11.5 billion), with actual expenses amounting to 41 billion yuan (around $5.78 billion),” the official stated.

He also added that authorities plan to further increase funding to address the needs of the pandemic response. “It is essential to ensure that financial issues do not impact the provision of medical assistance and the control of the disease’s spread; people should not be afraid to seek medical help due to concerns over expenses,” he emphasized.