China pledges hefty investment to boost agriculture

Source: Xinhua | 03-05-2009 09:56

BEIJING, March 5 (Xinhua) -- Chinese Premier Wen Jiabao pledged Thursday to add another 120 billion yuan to boost the country's agriculture.

Addressing nearly 3,000 lawmakers at the Second Session of the 11th National People's Congress, Wen said in his government work report that central government spending on agriculture, farmers and the rural areas would total 716.1 billion yuan (104.6 billion U.S. dollars) in 2009, a year-on-year increase of 120.6 billion yuan.

Calling agriculture the "foundation of the economy", Wen said the investment was part of a package plan to ensure steady and rapid economic development against the global financial crisis.

The money would be used for improvement or construction of rural public facilities, expanded agricultural subsidies to farmers, subsidies for the purchase of agricultural machinery and tools, and popularizing agricultural science and technologies.

"We will effectively keep the area planted in grain crops stable, focus on increasing the yield per unit area and optimizing the variety mix, and increase the country's grain production capacity by 50 million tons," he said.