China pumps 2.58b yuan into agricultural industrialization

BEIJING - The central government has set aside a 2.58 billion yuan ($417.31 million) subsidy to boost the amount of loans for the agricultural industrialization, the Ministry of Finance said on Thursday.

The money is designed to cut lending interest rates for agricultural industrialization projects so as to boost farm produce supply and farmers' income.

Thirty provinces, autonomous regions and provincial-level municipalities will benefit from the money, together with Dalian, Ningbo and Qingdao cities.

Also, 100 million yuan will be provided for food safety risk surveillance in 20 provinces, regions and municipalities, including Shanxi, Inner Mongolia, Chongqing and Sichuan, the ministry said.