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China govt offers financial relief in quake-hit areas
Beijing (AFP) May 20, 2008 China's government announced a series of financial measures Tuesday to help millions of people affected by the earthquake that devastated the nation's southwest, state press said. Besides allocating up to 2.5 billion yuan (357 million dollars) in personal allowances to quake victims, the government also ordered tax relief and loan extensions for bank borrowers in quake-hit areas, Xinhua news agency said. According to an order from the Ministry of Finance, quake victims would receive 10 yuan daily for three months, while elders who lost family members, and also handicapped people, would receive 600 yuan a month, Xinhua said. On top of such funds, finance departments at all levels of government had already allocated 11.7 billion yuan in relief funds for quake-stricken areas as of Tuesday, it added. The death toll of earthquake that struck the Sichuan region on May 12 rose to more than 40,000 on Tuesday, with nearly five million people left homeless, according to the government. Earlier China's central bank ordered commercial institutes to provide financial support for quake-hit areas, including loan extensions. Commercial banks were ordered not to pursue debtors in the regions around southwest China's Sichuan province who fall behind in payments, the People's Bank of China said in a circular on its website. Banking institutes should also refrain from levying fines for loan defaults or adding loan default notices to the credit records of borrowers in the disaster zone, the circular said. Meanwhile, the State Administration of Taxation (SAT) said Tuesday that tax payers in region could postpone their tax declarations, Xinhua said in a separate report. Community Email This Article Comment On This Article Share This Article With Planet Earth
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Miracle rescues in China quake as death toll tops 40,000
Chengdu, China (AFP) May 20, 2008A woman who survived on rainwater and a man fed via a straw were Tuesday pulled out of the rubble eight days after China's earthquake but hopes faded for others as the death toll topped 40,000. |
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