BEIJING, CHINA — China will provide grain farmers with 10 billion yuan ($1.45 billion) in subsidies from its central government budget, Xinhua news agency reported, citing the Ministry of Finance.
The goal of the subsidies is to protect farmers from the rising costs of supplies and encourage them to continue planting grain, the ministry said.
Subsidies will be given to individual farmers, farm families, farming cooperatives, agricultural enterprises and related entities that are bearing the brunt of the rising costs of agricultural materials.
The central government has so far allocated 40 billion yuan ($5.8 billion) of subsidies to farmers.
