March 5, 2020 / 6:32 AM / a month ago

China allocates almost $16 bln in coronavirus related funding

BEIJING, March 5 (Reuters) - China has allocated 110.48 billion yuan ($15.93 billion) in coronavirus-related funding as of March 4, Vice Finance Minister Xu Hongcai said at a press briefing on Thursday.

He added that China would ensure the smooth operation of local governments amid the coronavirus outbreak and that the finance ministry will ensure the funding needs of Hubei province, the epicentre of the outbreak.

China saw an uptick in new cases on Thursday driven by more cases in Wuhan, the provincial capital of Hubei, where the virus is believed to have emerged in a market late last year. ($1 = 6.9334 Chinese yuan renminbi) (Reporting by Kevin Yao and Shivani Singh; Editing by Christian Schmollinger)

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