Beijing will release 3.05 million kilograms from its frozen pork reserves onto the market to ease pork supply pressure and contain a price surge.
The government will also provide subsidies of up to 9 yuan ($1.4) per kilogram of pork sold to encourage vendors to decrease prices. The government will encourage slaughterhouses to increase the pork supply through subsidies, with 20 percent more pigs to be slaughtered during the 61-day period.
It is the first time the Beijing government has allocated reserve pork to the market since a «life necessity reserve mechanism» was launched in 1992 to create reserve systems to stabilize prices of key goods.
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