ANNOUNCED AS TEMPORARYNo
In June 2019, the Chinese State Council released Guobanfa 2019/31 (hereafter, 'Announcement'), which sought to address some of the issues that had arisen due to a widespread epidemic of African swine fever (ASF) in the Chinese mainland.
Most of the measures contained in the announcement were sanitary measures aimed at containing the epidemic. However, the pork market in China very large, being by far the biggest in the world, with over 700m head of swine killed in 2017 alone to feed the Chinese populace's 30kg annual per capita demand for the meat.
Due to this, the Announcement charges local governments with the task of 'maintaining the price of regional pork markets' by supporting swine production to make up for losses, and making transport of pork more efficient to cater to the worst-hit areas.
For financial institutions, the State Council orders them to stabilise credit and 'provide stable support' to pork producers, also ordering such firms 'not to stop lending to [the pork industry] for no good reason'.
The Announcement then orders local governments to make use of their own funds to address the problems laid out in the rest of the document.
Numerous provincial and municipal enactions of this Announcement were subsequently released, however, precise funding information was not. Please see related act for an example of this.
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