June 8, 2011

China injects US$285 million into agriculture in Jan-May


China invested RMB1.84 billion (US$284.54 million) during the first five months of the year to support agricultural projects, according to a statement from the Ministry of Finance.

The investments were used to pay the interest on RMB75.76 billion (US$11.68 billion) in loans made for agricultural projects, said a statement issued by the state agricultural comprehensive development office of the Ministry.

Discounted loans often go to projects that have to do with grain, cotton and vegetable oil processing.

The office supports the industrialisation of agriculture and boosting the incomes of rural farmers, the statement said.

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