Soybean Imports: Soybean and Imports Count

soybean imports: The central government subsidy will be issued to provinces, allowing local governments to take specific measures according to their own situations, according to Global Times China. The move is intended to promote the soybean revitalization plan, which was addressed in the No. 1 Central Document issued by the government in February. Photo VCG China will continue to provide subsidies and increase research and development investment in soybean cultivation to promote its own soybean industry and reduce reliance on soybean imports, according to China's Ministry of Agriculture and Rural Affairs on Tuesday. As the biggest soybean consumption country, China uses more than 110 million tons of soybeans annually and imports count for 86 percent of the total, according to the Ministry of Agriculture and Rural Affairs website. The China-US trade war was surely a trigger for China's government to take measures to relieve the country's excessive reliance on imports, he noted. With relatively thin profit of domestic soybean crops, China has to turn to imports to meet its huge demand, Ma Wenfeng, a senior industry analyst, told the Global Times on Tuesday. (news.financializer.com). As reported in the news.