Date
17 October 2017

Govt plans up to 1.6 trln yuan farmland investment, Xinhua says

China plans to invest between 800 billion yuan (US$131.73 billion) and 1.6 trillion yuan from now until 2020 to develop high-quality farmland that can ensure stable yields even amid drought or excessive rain, the official Xinhua news agency reported Monday, citing a document published by the National Development and Reform Commission. The area of the planned farmland is set at 800 million mu (52.8 billion hectares), helping boost the total grain production capacity by 80 million metric tons in the period. China’s population is expected to exceed 1.4 billion by 2020. Food supply pressure will increase as rising incomes lead to higher consumption, the report noted.

– Contact HKEJ [email protected]

TL/AC/RC

 

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