BEIJING - China’s state planner said on Monday it will issue subsidies of up to 5 million yuan ($700,000) to support the construction of large-scale pig farms in the latest measure to promote pig farming after a devastating disease ravaged the hog herd.
The subsidies - to be at least 500,000 yuan but no more than 30% of the total project investment - must be issued by the end of 2020, the National Development and Reform Commission (NDRC) said in a statement on its website.
They can also be issued to farms seeking to expand, with the funds aimed at helping producers cover the cost of equipment for disease prevention, waste treatment, environmental controls and automated feeding.
The move comes as official figures show China’s hog herd, the world’s largest, has shrunk by almost a third since a year ago, after deadly African swine fever swept across the country.
Many people believe the losses to be much higher, however, at about half the herd.
Pork prices began rising sharply in June in response to the reduced supplies, reaching a fresh record last month, and Beijing has warned that they will go higher, threatening to become a serious concern for low-income consumers.