China provides 20 billion yuan in subsidies to grain planters

China has provided 20 billion yuan (about 3.16 billion U.S. dollars) from the central government budget to protect grain planters from rising prices of farming supplies, the Ministry of Finance said Friday.

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

It will work with the relevant departments to strengthen oversight of the funds and guide local governments to distribute the subsidies to grain planters early to stabilize farmers' income.

In June 2021, China allocated 20 billion yuan in one-off subsidies to grain farmers, with the aim of easing the impact of price rises for farming materials and protecting farmers' enthusiasm for grain planting.