Supply-side reform is the main theme of the No. 1 Central Document on agriculture this year. President Xi Jinping has reiterated that we should properly expand total demand, enhance structural reform of the supply side, increase the quality and efficiency of the supply system and strengthen sustainable economic growth impetus. The State Council, China’s cabinet, also advanced cultivating new supply momentum to expand domestic demand. The focus on supply-side reform shows the leadership’s new understanding for China’s macroeconomic policy and its emphasis in the future…Full Article: ECNS.cn Jan 2016
- In China, agricultural inputs (e.g. fertilizers, pesticides, land rent costs, and labor) account more than 80% of the sector’s total production costs.
- This is the 13th year in a row that China’s “No. 1 Central Document” (published by the Central Committee of the Communist Party of China and the State Council) has made improving the country’s agriculture sector a key goal. The latest document (2016) plans to develop 53 million ha of “high quality” farmland, as well as train farmers, improve mechanization, and intact better water resource management policies. Additionally, China hopes to secure urban residential status for 100 million rural workers.