Farming gets US$3.2b
Print Edition
The government spent 20.4 billion yuan (US$3.2 billion) this year developing modern agriculture as part of its rural reform efforts, China’s Ministry of Finance said yesterday.
The funds were used to support leading industries, promote land management and adjust agricultural structures, it said.
Under the “new normal” economic model, agricultural modernization is essential to stabilize growth and improve people’s livelihood, it said.
The government unveiled a rural reform plan last month, stressing that agricultural management and rural collective property rights will both be improved by 2020 to safeguard grain security and raise farmers’ income.
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