Top Biz News

China allocates $104.8b for rural development

(Xinhua)
Updated: 2009-12-26 11:30
Large Medium Small

China has earmarked 716.1 billion yuan ($104.8 billion) from the central budget this year for agriculture, rural areas and farmers, the Ministry of Finance said Friday in a statement.

That was 120.59 billion yuan more than that in 2008, which has helped to further stabilize the development of the agriculture and increase farmers' income, according to the statement on the ministry's website.

Farming-related subsidies including subsidies for food, agricultural material, seeds, and agricultural machinery and tools in 2009 stood at 123.08 billion yuan, up 19.4 percent year-on-year, the statement said.

Related readings:
China allocates $104.8b for rural development China vows to promote agriculture development in 2010
China allocates $104.8b for rural development Farmers fears unfounded as WTO entry boosts agriculture
China allocates $104.8b for rural development Direct-buy program benefits retail, agriculture
China allocates $104.8b for rural development China to invest 716.1b yuan in agriculture

A total of 264.22 billion yuan were allocated to improve agricultural infrastructure construction, including reinforcing the dilapidated small-sized reservoirs and purifying small-sized contaminated watersheds.

The central government also arranged 269.32 billion yuan to enhance public services in rural areas, according to the statement.

The central government vowed in this year's Central Economic Work Conference, which wrapped up on Dec 10, to devote more efforts in 2010 to promote agriculture development, strengthen produce supply to the market, and expand rural demand.