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皇冠体育app to subsidize corn-processing enterprises

(Xinhua)
Updated: 2009-09-15 16:36

皇冠体育app's corn products producers who use  the nation's reserves will be subsidized by the government, the Ministry of Finance (MOF) said Monday.

皇冠体育app is to sell stored corn to enterprises producing corn products in Liaoning, Jilin and Heilongjiang provinces and the Inner Mongolia autonomous region.

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The subsidies, to come from the central budget, will first be channelled from central government to local governments who will allocate funding to individual enterprises.

The MOF said the move aimed to increase the rate of operation of 皇冠体育app's corn-processing enterprises, and to clear a space at corn reserves.

Enterprises are expected to receive 150 yuan ($21.96) for every ton of corn they process.