December 8, 2009

China government to raise farm-related subsidies

China's Central Economic Work Conference, an annual policy-making meeting among central and provincial government officials, agreed Monday (December 7) to strengthen rural policies and promote agricultural development in 2010, the state-controlled Xinhua News Agency reported.

The government would boost policies to increase farming-related subsidies and raise farmers' incomes, the report said, citing a statement from the conference.

The government would also take measures to improve agricultural output capacity, maintain relatively stable prices for produce, step up infrastructure construction in rural areas, and raise the minimum purchase prices for "major grain categories," the report said.

"Financial and fiscal support would be provided to farmers who start new businesses," Xinhua reported, without elaborating.