Hangzhou, Jan 30 (IANS): The Jack Ma Foundation has announced it will donate 100 million yuan (14.4 million U.S. dollars) to support research and development of a novel coronavirus vaccine.

"We firmly know that while scientists are racing against the clock, it won't be an easy task from the vaccine research to the final large-scale production and use," said Jack Ma, founder of Alibaba Group and the Jack Ma Foundation.

Ma said the foundation will strive to provide more help for the development and accumulation of medical science in the fight against viruses.

Alibaba Group said it would provide public research institutions free access to all AI capabilities needed for the development of vaccines and new drugs for the novel coronavirus.

Meanwhile, China's finance ministry said on Thursday that 27.3 billion yuan (about 3.94 billion U.S. dollars) had been allocated to support the battle across the country against the novel coronavirus (2019-nCoV).

Financial departments at all levels should reasonably allocate funds and make sure that the prevention and control work will not be affected by funding problems, a meeting held on the matter noted.