China on Wednesday announced several economic policy measures to support the country's economy amid record heatwaves and drought, reported China Media Group (CMG), citing latest remarks from a State Council meeting chaired by Premier Li Keqiang.

The country will support central power generation enterprises to issue bonds amounting to 200 billion yuan ($29 billion) and provide 10 billion yuan in subsidies for agricultural materials, the meeting said.

It also said China's central government will allocate another 10 billion yuan in reserve funds to mainly support mid-season rice cultivation operations that have been severely hit by the recent drought.

Since July, several Chinese provinces, especially those in southern parts of the country, have witnessed extremely high temperatures.

This year's summer witnessed the strongest heatwave since China started meteorological observations in 1961, taking into account its intensity, duration, areas impacted and effects on crops, according to the Ministry of Agriculture and Rural Affairs.

On Wednesday, the National Energy Administration vowed to take more steps to ease power supply shortages in Sichuan Province and Chongqing Municipality, as energy infrastructures in the two regions faced strains from the extreme heat.

Read more: China's Sichuan takes steps to ensure power supply amid record heat wave