BEIJING – China will cut excess industrial capacity a year earlier than planned and fight pollution through reforms in energy pricing to boost non-fossil fuel power, the government said on Wednesday.
Continue Reading Below
To ensure food security, Beijing also said it will expand the scope of agricultural subsidies for grains and other commodities, the National Development and Reform Commission (NDRC), the country's economic planner, said in its 2014 work document.
The government will continue to implement annual stockpiling programs for corn, rapeseed and sugar, the NDRC said.
(Reporting by David Stanway and Niu Shuping; Writing by Fayen Wong; Editing by Ed Davies)