China Sets Targets for Supply-side Structural Reform in Agriculture

China’s State Council Friday released a guideline on accelerating supply-side structural reform in agriculture, specifying major tasks and targets for the sector’s development in the coming years. according to an article on Xinhuanet.com.

By 2020, China plans to foster a modern system for the grain industry and raise the ratio of high-quality grain by around 10 percentage points, according to the guideline.

China is also eyeing an annual average expansion of around 7 percent in the added value of the industry, with the increase of the grain processing rate to 88 percent. By 2020, the number of grain companies with yearly business revenue of more than 10 billion yuan (1.5 billion U.S. dollars) should exceed 50, the guideline said.

Major tasks for the development of the industry include invigorating leading enterprises, innovating new growth models and speeding up restructuring and upgrading to boost the supply of green and high-quality products.

Read more at Xinhuanet.com.

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