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November 18, 2005

China's poultry industry gets a break

China Daily reports on the latest government plans to cope with bird flu.

At a meeting of the State Council, or Cabinet, led by Premier Wen Jiabao, poultry processing and marketing businesses were ordered exempt from 2005 corporate taxes. They will get value-added tax rebates and export tax rebates, and breaks on land use, real estate and vehicle taxes, Xinhua News Agency reported.

Banks, meanwhile, were ordered to relax terms on loan payments and poultry workers who lose their jobs are to get unemployment insurance or subsistence allowances, the Xinhua report said.

The government earlier set aside 2 billion yuan, or $250 million, to finance its campaign against the disease, which includes vaccinating all domestic fowl and compensating farmers for their losses. According to state media reports, farmers are due to get between 10 yuan to 30 yuan ($1.23) to 30 yuan ($3.70) for each bird lost to culling or disease.

is help comes not a minute too soon. The story also describes the implosion of the poultry market in Shanghai, where chicken is now cheaper than some vegetables.

Posted by dymaxion at November 18, 2005 01:20 PM

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