China is offering more subsidies on farm machinery to maintain food self-sufficiency as the rural workforce shrinks. In 2014 23.6 billion yuan ($3.9 billion) went on farm machinery subsidies, up from 70 million yuan ten years before when the subsidy program began, according to the Ministry of Finance. More than 120 billion yuan has been spent on farm machinery subsidies since 2004, raising mechanization to 61 percent from 34 percent in 2004…Full Article: China Daily Feb 2015
- According to the article, China’s farm machinery subsidies will last another three years and will focus on farmers who grow grains, cotton, and sugar.
- In 2013, the total power of China’s agricultural machinery reached approximately 1 billion kilowatts (bw) or 1.34 billion horsepower (hw). In 2010, this figure totaled ~927 million kw or ~1.24 billion hw.
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