China allocates fund for spring farming
Updated: 2013-04-12 23:23
BEIJING - The Ministry of Finance (MOF) said Friday it has allocated 7.9 billion yuan (1.25 billion US dollars) to support spring ploughing, which is pivotal to the country's grain harvest.
The money will be used to fight drought, prevent plant pests, cultivate new seeds and subsidize farmers, the MOF said in a statement.
China's central coffers budgeted 774.8 billion yuan in 2013 to beef up agricultural production. By the end of March, 400 billion yuan had been allocated.
The ministry urged local authorities to closely monitor use of funds to make sure they are spent on needy places.
China's grain output rose 3.2 percent year on year to a hit a record high of 590 million tonnes in 2012, marking the ninth consecutive year of growth.