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China unveils 11 measures to boost oil-bearing crop production
2007-09-23 07:33:44 Xinhua English

BEIJING, Sept. 23 (Xinhua) -- China has announced 11 measures to arouse farmers' enthusiasm for oil-bearing crop production, the Ministry of Agriculture said here on Sunday.

The measures will be implemented to expand the acreage for oil-bearing crops, raise the unit output and improve product variety.

According to the new policy, China will allocate additional 1.3billion yuan to subsidize popularization of fine strains of oil-bearing crops, of which 300 million yuan will go to soybean production.

Meanwhile, China will increase investment in building state oil-bearing crop production bases, establishing an insurance system for oil crop planting, and promoting industrialization of oil processing.

The country will also provide more subsidies for construction of soybean research center and popularization of new strains.

By implementing these measures, China will accomplish four goals in the 2006-2010 period including raising its oil-bearing crop output by 14 percent by 2010. (One U.S. dollar equals 7.51 yuan)

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