China's subsidies to reservoir migrants hits $15.84b

BEIJING - Reservoir resettlement migrants have received 99.9 billion yuan ($15.84 billion) in subsidies between January and October, China's Ministry of Finance (MOF) said on Wednesday.

The amount in subsidies to large and medium-sized reservoir resettlement migrants is 11.3 percent more than for the same ten-month period last year, the ministry said.

China has been providing 600 yuan per year as a follow-up subsidy to each migrant since July 1, 2006. The subsidy is set to last 20 years.

A total of 23.93 million migrants benefit from the subsidy.

The MOF has earmarked 1.89 billion yuan to subsidize migrants for 2013.