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Economy
In reply to the discussion: STOCK MARKET WATCH -- Monday, 24 December 2012 [View all]xchrom
(108,903 posts)33. China Pledges Rural Reforms to Boost Incomes, Consumption
http://www.bloomberg.com/news/2012-12-23/china-pledges-rural-reforms-to-boost-incomes-consumption.html
China said it will better protect farmers land rights and boost rural incomes and public services to help narrow the divide with urban areas.
The government will increase agricultural subsidies and ensure reasonable returns from planting crops, the official Xinhua news agency reported on Dec. 22, citing an annual work conference to set rural policy.
The goals, which include increasing rural incomes by at least as much as those in urban areas, reflect a new leaderships focus on reforming the land system and addressing wealth disparities as it encourages migration into towns and cities to boost consumption. Li Keqiang, set to take over from Wen Jiabao as premier in March, is championing urbanization as a growth engine.
A completely new policy approach is emerging under Li Keqiang, said Yuan Gangming, a researcher in Beijing with the Chinese Academy of Social Sciences. Its about giving farmers a bigger share from land deals, its about changing local governments reliance on revenues from land, and its ultimately about a fairer system of sharing Chinas economic growth.
China said it will better protect farmers land rights and boost rural incomes and public services to help narrow the divide with urban areas.
The government will increase agricultural subsidies and ensure reasonable returns from planting crops, the official Xinhua news agency reported on Dec. 22, citing an annual work conference to set rural policy.
The goals, which include increasing rural incomes by at least as much as those in urban areas, reflect a new leaderships focus on reforming the land system and addressing wealth disparities as it encourages migration into towns and cities to boost consumption. Li Keqiang, set to take over from Wen Jiabao as premier in March, is championing urbanization as a growth engine.
A completely new policy approach is emerging under Li Keqiang, said Yuan Gangming, a researcher in Beijing with the Chinese Academy of Social Sciences. Its about giving farmers a bigger share from land deals, its about changing local governments reliance on revenues from land, and its ultimately about a fairer system of sharing Chinas economic growth.
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