Thursday, 25 December 2014

China to modernize agriculture and increase rural incomes

<br/><a href="http://oi62.tinypic.com/29vath.jpg" target="_blank">View Raw Image</a>The top economic and policy headline that we are tracking at this hour...China's Central Rural Work Conference has laid out its roadmap for China’s rural reform in 2015. Increasing agricultural quality and efficiency and narrowing the urban-rural wealth gap top the conference's agenda.
China's domestic demand for agricultural products is rising due to increasing urban population. Policy makers at the conference vowed to improve agricultural efficiency by modernising the farming sector.
Professor Liu from University of international business and economics says that a lot needs to be done to raise the quality and efficiency of agriculture.
China also vowed to speed up agricultural innovation, facilitate the orderly transfer of management rights for rural lands and the development of new agricultural entities.
Other top concerns include the widening urban-rural wealth gap. Analysts say that institutional reforms are needed to boost rural income. China aims to increase rural residents income by 7.5 percent, while setting next year’s grain output target at more than 550 million tonnes.

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