October 24, 2014

The Chinese government to pump RMB140 million into Henan's beef industry

To speed up the development of beef and mutton production, the Ministry of Agriculture and the Ministry of Finance hadorganized and implemented a program this year to increase the number of ruminants.

The central government will also be pumping RMB140 million (US$22.8 million)into Henan's beef industry.

For a start, Henan province has identified 23 cities includingWeishi, Luoning and Yiyang,to participate in the program, where farms rearing 10 or more cows, as well as big enterprises with herds of more than 500 cows, may declare voluntarily and enjoy subsidies for the purchase of new calves.

It is reported thatthe amount of subsidy will depend on the number of new calves purchased.