Policies released to boost China’s agricultural growth

2018-04-04
Xinhua

BEIJING — China announced a package of key policies to boost the growth of agriculture for the year, offering more financial support for the sector.

The policies, jointly released by the Ministry of Finance and the Ministry of Agriculture and Rural Affairs on April 3, include direct subsidies for farmers, among a string of measures to support the sector’s development and ecological protection.

China has confirmed it will give subsidies to corn and soybean producers in the northeastern provinces of Liaoning, Jilin and Heilongjiang, as well as Inner Mongolia autonomous region.

The subsidies, arranged by the central government, will be redeemed by producers via a card or bankbook, according to the ministries.

Soybean subsidies will be higher than those for corn, with specific standards for allocation not yet set up by local governments.

Central finance will also allocate rice subsidies for major rice producing provinces to protect farmers’ interests and push reform of the minimum purchase price of rice.

China will establish a professionalization system for farmers, offering skill and management training to about 1 million farmers, the ministries said.