China allocated 29 billion yuan ($4.6 billion) to agricultural comprehensive development funds from the central finance budget in 2012, an increase of 26.09 percent year-on-year, with the majority of the funds being used to support the country's major grain producing areas, the Ministry of Finance (MOF) said in a statement on its website Wednesday.
The country also offered more than 24 billion yuan in subsidies for farmers to purchase agricultural machinery in 2012, up 4 billion yuan or 22.9 percent from the previous year, the MOF said in a separate statement posted on its website Wednesday.
Grain production in China has increased for nine consecutive years since 2004.
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