China allocates funds to improve supply chain of agricultural products

BEIJING - China will step up fiscal support to improve the supply chain of agricultural products in a bid to boost sales and increase farmers' income, according to an official announcement.

The central government will allocate a two-year fund of 200 million yuan ($30 million) to each provincial-level region that gets their respective plan approved, the Ministry of Finance (MOF) said in an online statement.

The fund will be used to improve the weak links and key areas in the agricultural products supply chain, the statement said.

Support should be given to building farm produce processing facilities and developing cold chain logistics, the statement said.

Local authorities should conduct strict supervision over the use of the funds. The MOF and the Ministry of Commerce will assign third-party agencies to evaluate the progress and results, the statement said.