China allocates 10b yuan in subsidies to grain farmers

BEIJING-- China will provide grain planters with subsidies totaling 10 billion yuan ($1.46 billion) from its central government budget, the Ministry of Finance said on Monday.

The move aims to protect grain planters from the rising prices of farming supplies and further stimulate their enthusiasm for grain planting, the ministry said.

One-time subsidies will be allocated to grain producers, including individual farmers, family farms, farming cooperatives, agricultural enterprises and related entities, which are bearing the brunt of the rising costs of agricultural materials, according to the ministry.

So far in 2022, the central government has allocated 40 billion yuan of subsidies to grain planters in three batches.