China to issue 20b yuan to farmers due to commodity price spike, financial institutions sacrifice earnings to shore up economy


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Sat, 19 Jun 2021 10:03 UTC © Xinhua Farmers harvest rice at Jiache Village, Jiabang Township, Congjiang County of southwest China's Guizhou Province, Sept. 19, 2020. China will hand over a one-off subsidy of 20 billion yuan ($3.1 billion) from its central finance budget to farmers to cope with rising costs of production materials due to spiking commodity prices in recent months, said a statement on Friday after a State Council executive meeting presided over by Premier Li Keqiang. Agriculture is of high importance to social stability, the statement said and the subsidy will be issued to farmers in light...