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This Week
Print Edition> This Week
UPDATED: February 22, 2009 NO. 8 FEB. 26, 2009
ECONOMY
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The subsidies would mainly be offered to buses that are 10 meters or longer, according to the announcement. The government also will subsidize mixed-power passenger cars, and electric and fuel-cell vehicles used in the public sector.

The ministry said that local governments would be required to distribute funds for the building and maintenance of facilities for those vehicles.

Expanding Agriculture Insurance

The China Insurance Regulatory Commission announced on February 17 that the country would expand agriculture insurance coverage as an effort to help farmers guard against risks.

According to the insurance regulator, a greater number of crops, including grain, cotton and oil plants, and more livestock will be included in the coverage. More insurance programs for forestry, pigs and rubber would also be designed.

In 2008, Chinese farmers were offered agriculture insurance totaling 239.7 billion yuan ($35 billion), more than 97 percent of which was subsidized by local governments at different levels.

Flying Skyward

The Commercial Aircraft Corp. of China (CACC) recently announced that the ARJ21, the country's first domestically manufactured regional jet, has started mass production. The first 30 planes will be delivered to clients by 2012.

CACC has received 208 orders for the 90-seat jets from domestic and overseas buyers, including GE Commercial Aviation Services, which purchased 25 planes in a $732-million deal with CACC.

The ARJ21 jet conducted its maiden flight in November 2008. Another four jets will start trials this year in Shanghai and Xi'an, the capital city of northwestern Shaanxi Province, according to a Xinhua News Agency.

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