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Comment (The circular, issued by the Ministry of Civil Affairs and the Bank of China, China Construction Bank, Industrial and Commercial Bank of China, Agricultural Bank of China and the State Postal Savings and Remittance Bureau, says the charges for opening bank accounts and managing small sum accounts are exempted.
The financial service consulting fee and bankbook loss reporting fee are also waived for rural and urban poor, says the circular.
Over recent years, the Ministry of Civil Affairs have entrusted banks and postal savings and remittance bureaus to distribute subsistence allowance, providing convenience to the destitute to receive subsistence allowance.
According to the latest official statistics, China's current subsistence allowance system covers 22.33 million people in cities and 13 million in the countryside.
The subsistence allowance standard in Beijing is 300 yuan, while opening a bank account costs one to ten yuan, according to the various standards of different banks.
