Financial Times FT.com

China unveils subsidies for fuel users

By Geoff Dyer in Beijing

Published: June 20 2008 19:28 | Last updated: June 20 2008 19:28

China unveiled a number of subsidies for fuel users in an effort to prevent unrest and soften the blow of the big increases in energy prices that took effect on Friday.

The government announced specific subsidies for grain farmers, taxi drivers and low-income groups, and said public transport fares would not go up as a result of the rise in headline prices. The finance ministry said the targeted subsidies would amount to Rmb19.8bn ($2.9bn, €1.8bn, £1.5bn).

You have viewed your allowance of free articles. If you wish to view more, click the button below.

Read this