BEIJING, May 8 (Reuters) – China has allocated 45.8 billion yuan ($6.73 billion) in funding to support the development of pre-school education this year, state broadcaster CCTV said on Friday. The allocation from the Finance Ministry was 38% higher than the funds earmarked for the same segment last year, to focus support for local authorities […]
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China’s finance ministry allocates $6.7 billion for pre-school education this year
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BEIJING, May 8 (Reuters) – China has allocated 45.8 billion yuan ($6.73 billion) in funding to support the development of pre-school education this year, state broadcaster CCTV said on Friday.
The allocation from the Finance Ministry was 38% higher than the funds earmarked for the same segment last year, to focus support for local authorities in waiving pre-school education fees and improve childcare quality, CCTV said.
($1 = 6.8014 Chinese yuan renminbi)
(Reporting by Liz Lee and Beijing newsroom; Editing by Muralikumar Anantharaman)