United States Department of Agriculture (USDA) Foreign Agricultural Service (FAS) announces China, Peoples Republic of Agricultural Situation 2006:
Report Highlights: This report provides a news synopsis of trade policy and agriculture/commodities in China. Trade policy news includes: Financial support for export-oriented Jiangsu Province companies. Agriculture/commodities news includes: BT cotton contributes to overall cotton production in China.
Jiangsu Province to provide financial support to export-oriented companies In order to encourage companies of Jiangsu Province to explore international markets and avoid foreign exchange risk, the provincial government has recently announced a new policy to financially support export credit insurance for all companies of the province.
Any exporter can enjoy this policy, provided it meet the following requirements: short-term export credit insurance purchase, and overseas investment and business guarantee insurance purchase; uniform application form completion; insurance fee payment; official receipt acquirement from the Jiangsu Branch Company of China Export Credit Insurance Company.
The local government will provide financial support at 10 percent of the total claimed and paid insurance to agricultural exporters. The claims can include agricultural products, agricultural by-products and aquatic products, and the companies must ensure that 10percent of such insurance target new emerging markets.
Agriculture/Commodities
BT cotton contributed to China's cotton production Since the introduction of BT cotton seven years ago, the cumulative planted area reached 8.5 million hectares.
It is estimated that the planting of BT cotton reduced agri-chemical use by 650,000 MT and generated social and economic returns exceeding $2.7 billion.
United States Department of Agriculture Foreign Agricultural Service
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