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Supply-side reform tops China's rural agenda


02-06-2017 08:39 BJT

Beijing has released its annual blueprint for China's rural and agriculture areas. The key policy document titled the 'Central Government No.1 Document', or simply 'No.1 Document' for short, lays out the government's development priorities in the year ahead. 

In this year's document, released Sunday, China has pledged to promote supply-side reform and encourage new growth engines in agriculture, as it seeks to modernize the industry. For supply-side reform, the blueprint emphasizes national food security, while meeting the changes in market demand.

Other major goals include boosting incomes of the rural workforce, ensuring consistent supplies, and improving quality. Agriculture accounted for about 8.6 percent of China’s GDP in 2016, according to preliminary data released last month. The per capita income of urban households was 2-point-7 times higher than in rural households, slightly down from 2015. Harvests decreased last year, but were still the second highest in history.

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