BEIJING, Aug. 8 -- The central government will allocate more funds to the basic living allowance it gives to orphans and children living with HIV/AIDS, the Ministry of Finance said Monday.

It will channel 700 million yuan (105.1 million U.S. dollars) more into the allowance fund this year, according to a statement on the ministry's website.

Coupled with the 1.24 billion yuan already extended, the central government has allocated 1.94 billion yuan this year.

Orphans and children living with HIV/AIDS in China's less developed western regions receive 400 yuan each month, while those in central areas and eastern provinces get 300 yuan and 200 yuan every month.

China has more than 500,000 orphans and children living with HIV/AIDS.