China's agriculture ministry outlines spending priorities for 2020

China's agriculture ministry outlined spending priorities for 2020 during a teleconference, according to a statement released on April 2 on its website.

As COVID-19 has been basically curbed, the country will ramp up financial support this year to stabilize the production and supply of agricultural produce, and make all-out efforts to ensure fiscal funds and subsidies for spring plowing, the Ministry of Agriculture and Rural Affairs said.

Financial institutions were urged to offer greater assistance to key agricultural areas and entities, while favorable credit policies such as re-lending for anti-virus firms and re-loans for micro, small and medium-sized enterprises should be put in place, the ministry said.

In an effort to secure a decisive victory in poverty alleviation and complete the building of a moderately prosperous society in all respects this year, the meeting also called for the solid implementation of related project funds and preferential policies.

For poverty-stricken areas, application requirements of projects including the infrastructure construction of cold chain logistics and modern agricultural industrial parks shall be relaxed accordingly, it said.