China expected to change its cotton stockpiling policy to directly subsidizing farmers, government official says; policy adjustment to be further discussed at upcoming industry conference
June 19, 2013
(Xinhua News Agency)
– China is expected to change its cotton stockpiling policy to directly subsidizing farmers, revealed Sun Ruizhe, vice chairman of the China National Textile and Apparel Council (CNTAC).
The policy adjustment will be further discussed at the Xinjiang Cotton Conference to be held soon. China's largest cotton production base Xinjiang Uygur Autonomous Region is likely to be the first pilot region.
After the new policy is implemented, textile and garment enterprises are anticipated to obtain cheaper raw materials and this is favorable for healthy development of the textile industry.