China promises $9bn in aid to farmers
22 February 2008
China will spend US$9 billion to help farmers rebound from the disastrous snow storms struck that the country in January and early February, the AP reported, citing state media. The funds, which will go toward agricultural goods and subsidies, are aimed at helping farmers recover in time for spring planting. The government has said that fresh vegetable supplies would run low in March but that overall food supplies would be adequate. Food shortages arising from the storms helped push inflation in January to its highest rate in 11 years. The government last week promised US$1.25 billion in aid to areas affected by the storms.
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