China's hog prices up in late May

BEIJING - The prices of live pigs in China went up 4.6 percent in late May compared with the previous 10 days, data from the National Bureau of Statistics showed Thursday.

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

To soften the impact of the novel coronavirus outbreak, China has ramped up financial support including subsidies and loans to major pig producing counties to restore production, and pork and hog prices have gradually retreated despite some fluctuations.

Thursday's data also showed that of the 50 major goods monitored by the government, including seamless steel tubes, gasoline, coal, fertilizer and some chemicals, 29 saw prices increase during the period, 18 posted lower prices and three saw prices unchanged.

The reading, released every 10 days, is based on a survey of nearly 1,700 wholesalers and distributors in 24 provincial-level regions.