BEIJING - Since 2007, China has spent a massive amount of money to ensure that all villages have access to libraries with well-selected books, newspapers and audiovisual products for people in rural areas.

The Ministry of Finance (MOF) said Wednesday in a statement posted on its website that it has appropriated a total of 5.9 billion yuan ($937.99 million) to subsidize the construction of such rural libraries.

In 2012 alone, the MOF earmarked 1.2 billion yuan for subsidizing rural libraries in a bid to put an end to the project of building libraries for all administrative villages in China, according to the statement.

The project is one of the nation's key cultural programs to bring tangible benefits to people living in rural areas, the statement said.

China kicked off the project to build libraries in rural areas nationwide in early 2007, aiming to cover all villages by the end of 2015, according to the State Press and Publication Administration.

However, the country announced in late September that it had completed the project by the end of August, and a total investment of 18 billion yuan has resulted in the construction of 600,449 rural libraries.

Each library owns at least 1,500 books, 30 different newspapers and 100 audiovisual products that meet the needs of people living in rural areas.