China grants 19.8 bln yuan subsidy to weak groups

BEIJING, June 20 (Reuters) - China said it has granted a subsidy of 19.8 billion yuan ($2.88 billion) to weak consumer groups after it hiked fuel prices by nearly 20 percent on Thursday.

The subsidy will go to those in the fishery, forestry, public transportation and grain growers sectors, the Ministry of Finance said on Friday in a statement on its website (www.mof.gov.cn).

(Reporting by Jim Bai; Editing by Anne Marie Roantree)