China allocates $9 bn for quake relief

August 18th, 2008 - 10:23 pm ICT by IANS  

Beijing, Aug 18 (Xinhua) China has allocated 66.75 billion yuan ($9.71 billion) for May 12 quake relief and reconstruction, the finance ministry said Monday.This included 59.74 billion yuan from the central budget and the rest from the local budget, the ministry said on its website.

Imported materials and equipment for quake reconstruction would get special import tariffs, it said.

The grace period is from July 1, 2008 to June 30, 2011. Details of the policy were yet to be revealed.

Materials donated from abroad for quake relief between May 12 and Aug 12 were exempt from import tariffs, the ministry said.

The earthquake measuring 8.0 on the Richter scale devastated the southwestern Chinese province of Sichuan May 12, killing and wounding thousands in the aftermath.

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