Residents of South China's Sanya city, Hainan province, are set to each get 360 yuan ($57.6) as subsidy as the local government began granting half-year funds on Monday to offset rising prices, according to a report by People's Daily online Tuesday.

Qualified subsidy will target 620,000 residents, including those with local household registration, or hukou, migrant workers as well as flexible employees who registered under basic medical insurance between November 2013 and April 2014.

Total subsidies are expected to reach 220 million yuan for the half-year support, as each of the qualified residents will get 60 yuan per month.

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