The Chinese government announced a new fiscal support policy that will increase the country's supply of live pigs, which is expected to drive down pork prices and ease inflation worries, according to a meeting of the State Council, or China's cabinet, held on Wednesday.
The central government will invest 2.5 billion yuan ($384 million) in large-scale pig farms this year. Farmers will be able to receive a 100-yuan subsidy for each of the pigs they raise, according to the statement. They will also be eligible for 800 yuan in compensation for every pig they raise that dies from disease or other external factors, the statement said.
China Daily/ China.