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China invests big in modern agriculture

Updated: Dec 1,2015 5:56 PM     Xinhua

China spent 20.36 billion yuan ($3.2 billion) in 2015 developing modern agriculture, underscoring the country’s continued efforts in deepening rural reform, the Ministry of Finance said on Dec 1.

The funds were used to support leading industries with local characteristics in rural areas, promote the moderate scale management of land and strengthen adjustment of the agricultural structure, said the ministry.

Under the economic “new normal,” agricultural modernization is essential to stabilizing economic growth, adjusting structure and improving people’s livelihood.

China unveiled a rural reform plan in early November, stressing that agricultural management and rural collective property rights will both be improved by 2020 to safeguard grain security and raise farmers’ income.

China has witnessed substantial improvements to rural development over the past few decades with yields of summer grain reaching a record high in 2015 after 11 straight years of increase.