business

China allocates 1.75 bln yuan to assist agricultural production, disaster relief

BEIJING, Jan. 8 (Xinhua) — China has allocated 1.75 billion yuan (about 270 million U.S. dollars) from its central budget to ensure agricultural production and alleviate disasters during this winter and next spring, according to the Ministry of Finance.

The fund has been channeled to 24 provincial-level regions including Inner Mongolia, Liaoning, Sichuan and Gansu, the ministry said in a statement on Friday.

The fund will be used for reserving fodder for livestock through the winter, preventing and controlling disasters triggered by cold weather, as well as restoring facilities damaged by water-related disasters.

Preparation of backup water sources for possible droughts and implementation of protection measures against droughts and floods shall also be supported by the fund, according to the ministry.

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