Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Silk Road Database
Economy

China's finance ministry enhances credit support for hog production

March 20, 2020


Abstract : China will ramp up its financial support to secure hog production and pork supply, the Ministry of Finance (MOF) said Thursday.

BEIJING, March 19 (Xinhua) -- China will ramp up its financial support to secure hog production and pork supply, the Ministry of Finance (MOF) said Thursday.

By the end of January, China's financial institutions at all levels had allocated a total of 52.14 billion yuan (about 7.36 billion U.S. dollars) of subsidized loans for pig farmers to help them cope with capital strains, said Jiang Dayu, an official with the MOF, at a press conference.

Since last year, the country has implemented a string of policies targeted at the African swine fever, which are reversing the declining trend of hog production and safeguard ample supply, Jiang said.

In 2019, the additional expenditure to subsidize the insurance for hogs amounted to roughly 2 billion yuan, with 412 million pigs insured, he said, noting that the country compensated 7.9 million farmers with 14.4 billion yuan last year.

To soften the accumulative impact of the epidemic, the ministry will arrange 3 billion yuan to reward major pig producing counties to support their hog production and transportation, Jiang said, adding that efforts will be made to fortify disease prevention and control.

China will cut the guarantee fees for agriculture loan guarantee programs in accordance with local circumstances and halve the re-guarantee fees for provincial-level agencies. Special support will also be channeled to major enterprises in sectors such as forage, livestock and poultry and butchery to ensure the supply of key materials, Jiang said.

Scan the QR code and push it to your mobile phone

Keyword: hog production

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial