The Chinese State Council will give away 10.4 billion yuan ($1.58 billion) to help low-income families enjoy Spring Festival, the www.gov.cn reported Wednesday.

The decision to issue the Spring Festival allowances was made at a meeting of the State Council on Jan 19 chaired by Premier Wen Jiabao.

The allowances will be classified into three categories. Low income urban residents entitled to basic living allowances will be given 150 yuan ($22.77) per person. Rural residents receiving subsistence allowances, as well as the elderly, disabled and teenagers who can't work and have no income or family, will be given 100 yuan ($15.18) per person.

Senior village Party members who joined the Chinese Communist Party before the founding day of the People's Republic of China on Oct 1, 1949 will be given 180 yuan ($27.33) per person as will senior city Party members with no retirement income.

The estimated 10.4 billion yuan in total will come from central state revenue and benefit more than 86 million people.

Payment should be sent to people before the Chinese Spring Festival, which starts on Feb 3 this year, the State Council mandated with provincial and township officials setting up effective plans to ensure the timely delivery.