Chinanews, Shanghai, July 19 – Starting from this year, Shanghai municipal government will allocate as much as 500 million yuan every year as a financial aid to poor students so that they can continue their study without having to worrying about their financial difficulties, the Shanghai Morning Post reported.The Shanghai Municipal Education Commission announced the new funding policy on Tuesday. It said that the new policy has been printed on college admission letters issued to lucky students in Shanghai.This year, China has set up the national scholarship award, the national award that encourages students to fulfill their aspirations, and the national grant-in-aid award. It is estimated that this year, about 500 students in Shanghai will get the national scholarship award with a sum of 8,000 yuan for each student in a year. In addition, about 11,000 students can get the national award that encourages students to fulfill their aspirations. Apart from this number, Shanghai municipal government will offer such award to another 2,000 students in Shanghai. With this award, every student can get as much as 5,000 yuan a year. Meanwhile, about 49,000 students will get the national grant-in-aid award with a sum of 2,500 yuan for each student in a year.Local government in Shanghai has also set up the Shanghai governmental scholarship award, whereby recipients can get as much as 8,000 yuan in a year.