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Massive Investment in Chinese Agriculture

2 November 2012, at 11:29am

CHINA - To promote the development of its agricultural sector, China invested more than six trillion yuan (CNY; US$930 billion) in the decade from 2003 to 2012 - the highest in the country's history - according to the Ministry of Finance.

Over that time, expenditure on the sector from the central budget jumped from CNY214 billion in 2003 to CNY1.2 trillion, with an annual increase of more than 21 per cent, according to the ministry.

The financial support facilitated the implementation of policies and measures that contributed to a system to improve farmers' livelihoods and incomes as well as the country's agricultural output, the ministry said.