China has earmarked a large fund to invest in agricultural industrialization projects this year, the Ministry of Finance (MOF) announced on Monday [8 June 2015]. The central government plans to provide 4.93 billion yuan ($805.98 million) to finance a total of 4,238 agricultural projects, including 1,445 planting bases, 1,369 breeding bases and 914 product processing items, the MOF said in a statement posted on its website. Leading agricultural enterprises, superior or distinctive agricultural products involving livestock breeding, grain and oil as well as vegetables were listed as priorities for gaining access to the support, said the statement…Full Article: The Global Times June 2015
- The funding was approved by China’s National Development and Reform Commission, China’s top administrative body that has planning control over the economy.
- In March 2015, China’s MOF announced that will spend CNY 154.6 billion yuan (~US$24.6 billion) on stockpiling grains, edible oils and other agricultural goods.