China's hog prices decline in September

BEIJING - The prices of live pigs in China declined 4.1 percent in mid-September compared to the previous 10 days, data from the National Bureau of Statistics (NBS) showed on Thursday.

Since last year, China has implemented a string of policies to stimulate hog production and stabilize pork prices affected by African swine fever and other factors.

To cushion the impact of the COVID-19 outbreak, China has ramped up its financial support by providing subsidies and loans for major pig producing counties in a bid to restore production, and pork and hog prices have gradually declined despite some fluctuations.

The reading, released every 10 days, is based on a survey of nearly 2,000 wholesalers and distributors in 31 provincial-level regions.

The NBS data also showed that of the 50 major goods monitored by the government -- including seamless steel tubes, gasoline, coal, fertilizer and some chemicals -- 24 saw prices increase during the period, 19 posted lower prices and seven saw prices unchanged.