Top Biz News

China allocates $104.8b for rural development

(Xinhua)
Updated: 2009-12-26 11:30

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.

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.