date:Mar 29, 2013
Newly released data shows China spent a record RMB 23.9 billion (USD 3.8 billion, EUR 3 billion) subsidizing fuel for its fishing vessels in 2012, compared to RMB 17.1 billion (USD 2.8 billion, EUR 2.1 billion) in fuel subsidies paid to fishing vessel owners in 2011, a year-on-year increase of 63.8 percent. Subsidies for scrapping vessels and preserving fish resources will total RMB 400 million (USD 64.3 million, EUR 50.2 million) this year, according to the Ministry of Agriculture in Beijing in