BEIJING -- China has stepped up fiscal support for disaster control and emergency management, the country's finance minister said Sunday.
From 2019 to 2023, China's general public budget spending on disaster prevention and reduction and emergency management reached 3.05 trillion yuan (about $424.2 billion), with an average annual growth rate of 8.85 percent, said Finance Minister Lan Fo'an while delivering a report to an ongoing session of the Standing Committee of the National People's Congress.
The report, detailing China's fiscal spending on disaster prevention and reduction and emergency management, revealed that both central and local governments have made continuous efforts to provide solid financial support for the sector.
For 2024, the central government has allocated about 334.3 billion yuan for disaster and emergency response, according to the report.
China's central government has issued an additional 1 trillion yuan of treasury bonds in 2023, with the aim of supporting post-disaster recovery and reconstruction, and addressing the deficiencies in disaster prevention, reduction and relief, Lan said.
