The government has allocated 13.44 billion yuan ($2.12 billion) to buy textbooks for rural students in 2012, the Ministry of Finance said Monday.

The fund will benefit around 130 million rural students, according to a statement posted on the ministry's website.

China started a free textbook program for rural students in 2007. Under the program, each rural student can receive free textbooks for the duration of their nine-year compulsory education period.

China currently provides its children with access to basic education for nine years, covering elementary and junior high education.