Business / Industries

China increases funding for agriculture, rural areas

By Xinhua (Xinhua) Updated: 2012-06-27 18:02

BEIJING - China directed more government spending toward agriculture, rural areas and farmers last year, a senior official said Wednesday.

Central government spending on agriculture, rural areas and farmers jumped to 1.05 trillion yuan ($166.67 billion) in 2011, up 22.4 percent year-on-year, Finance Minister Xie Xuren said in a final report on the implementation of the 2011 budget to the ongoing session of the Standing Committee of the National People's Congress.

Spending on agricultural production and subsidies stood at 408.97 billion yuan and 140.6 billion yuan, respectively, last year, Xie said.

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