Farmers to Be Subsidized for Buying Building Materials

The Chinese government will offer incentives to farmers who buy building materials, including cement, ceramics and glass, a China Building Materials Circulation Association official told China Securities Journal Thursday. Furniture will not be included. "Building a residence is more important for the rural people," said the official, comparing with the "cash for clunkers" scheme. "The 'building materials for farmers' policy is expected to generate ¥80 billion ($1 = ¥6.83) in sales." The "cash for clunkers" scheme introduced for Chinese farmers in early 2009 has resulted in ¥162.75 billion in contract value for home appliances by January 18, 2010 and ¥8.68 billion in subsidy for vehicles and motorcycles by the end of 2009, according to the commerce ministry.