11millionyuantohelptheneedy

From: Shenzhen Daily

Updated: 2007-08-13 00:08

THE city government will spend 11 million yuan (US$1.45 million) to help impoverished people in Shenzhen deal with the burden of rising food prices, it said at a meeting Friday.

The money will benefit about 82,000 people, including those in 5,000 families who receive a minimum living allowance of 361 yuan a month, and students with financial difficulties. Each person will receive a monthly allowance of 20 yuan for the next six months, government officials said at the meeting.

In an effort to stabilize prices at school canteens, the money will also be used to subsidize canteens in public schools according to the number of students dining there. A canteen will be subsidized by 20 yuan per month for each diner.

The move comes after the Central Government urged local governments to subsidize the needy and stabilize the pork market last week.

According to the National Bureau of Statistics, China"s food prices increased by 7.6 percent in the first half of this year compared to the same period last year. The price of pork rose by 20.7 percent.

At the meeting, the city government also announced a plan to subsidize pig farms in an effort to encourage pork production. According to the plan, Shenzhen-based pig farms and Shenzhen-invested pig farms will receive 50 yuan for each adult sow. The city government is also encouraging Shenzhen-based farms to buy insurance for their sows by promising to pay 80 percent of the premium.

With pork prices expected to reach new highs during the coming Mid-Autumn Festival and National Day holidays, the city plans to increase its pork reserve by 2,000 tons to 5,000 tons.