China has recently optimized scholarships and bursary granting systems to senior high school and college students with an aim of providing financial aid to youth pursuing higher education.

The initiative jointly launched by the Ministry of Finance, the Ministry of Education and the Ministry of Human Resources and Social Security will double the number of undergraduate students receiving the State-level scholarships, while financial aid will also be significantly increased, starting this year.

As per the policy, 120,000 undergraduate students from universities and junior colleges can receive the scholarship, and each will be awarded 10,000 yuan ($1,400) annually. Previously, the quota of students was 60,000, and they could receive no more than 8,000 yuan a year.

The State-level scholarship provides major assistance for higher education students, rewarding them for achieving outstanding academic performance, diligence and good moral qualities.

The new policy will also double the number of such scholarships to postgraduate students from 45,000 to 90,000 from this year, among whom 70,000 will be master's degree candidates and 20,000 doctoral students.

Meanwhile, China will also channel more funds to assist students with financial difficulties. They will receive 3,700 yuan of State-level financial aid on average from this semester, with some receiving as much as 5,000 yuan. Previously, the financial aid offered was 3,300 yuan per year.

Beginning in the spring semester next year, aid will also be extended to students from regular senior high schools facing financial difficulties. On average, they will receive 2,300 yuan, while the neediest can receive up to 3,500 yuan per year in accordance with local practices. Previously, senior high students received 2,000 yuan in such aid annually.

The nation will expand the coverage of its financial aid to more vocational high school students and raise the amount from 2,000 yuan per year to 2,300 yuan starting next spring. Vocational high school students who are in their third year and having financial difficulties are included in the new policy.

Guo Tingting, vice-minister of finance, said at a recent news conference that China has established an all-around financial support system for students to give them security and make it easier for them to access higher education.

According to the finance ministry, the nation channeled 93.2 billion yuan in scholarships and aid to students last year, with over 31 million higher education students benefitting.