Economy

China to subsidize forestry industry

(Xinhua)
Updated: 2011-06-23 13:24

BEIJING -- The Ministry of Finance said on Wednesday that China will continue to subsidize tree planting this year to boost the development of the country's forestry industry.

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Forestry farmers, workers and cooperative organizations will receive a subsidy of 200 yuan ($30.77) for each mu (0.07 hectare) of high wood and woody oil plants. They will also receive a subsidy of 120 yuan for each mu of shrubbery, according a statement posted on the ministry's website.

The government will pay 100 yuan in subsidies for each mu of fruit and medicinal trees and bamboo, the statement said.

Furthermore, 5 percent of the afforestation fund from the central finance will be used for the subsidy policy publicizing, technical assistance, inspection checks and archives management, according to the statement.