(Yicai Global) Jan. 30 -- China has allocated CNY 27.3 billion (about USD 3.94 billion) to support the battle across the country against the novel coronavirus (2019-nCoV) as of 5 p.m. yesterday, the country's finance ministry said today.

The funds have been allocated to guarantee the coronavirus prevention and control work, the Ministry of Finance said on its website.

More efforts are required to improve fiscal and taxation measures for coronavirus prevention and control in a timely manner, said a meeting held earlier by the ministry.

Financial departments at all levels should reasonably allocate funds and make sure that the prevention and control work will not be affected by funding problems, the meeting noted.