China is to carry out “necessary and imminent” reforms of the rural collective property rights system to give farmers more rights and to prevent rural assets from falling into the hands of outside capital, as part of the country’s drive to spur economic growth in rural areas, the agriculture minister said on Tuesday [3 January 2017]…Full Article: ECNS.cn Jan 2017
- Over the next three years (2017 to 2020), according to China’s Minister of Agriculture, the government will carry out a complete inventory of the country’s agricultural assets and funds in order to establish an equitable asset shareholding system. This system will not be open to foreign capital.
- In December 2016, Alibaba’s Ant Financial announced plans to distribute CNY 1 trillion (US$143.9 billion) in rural loans over the next three years (2017 to 2020). During the same month, Ant Financial became the second largest shareholder in China’s CFPA Microfinance Management Company. Ant Financial will also set up a joint-venture with China United Insurance Holding that will support the country’s agriculture sector. Also at the same time, China’s Ministry of Agriculture announced they were considering establishing agricultural function zones in northeastern China (i.e. Heilongjiang, Jilin, Liaoning, and Inner Mongolia) for soybeans, Xinjiang Region for cotton, Yangtze River basin for rapeseed/canola, well as Guangxi Region and Yunnan Province for sugarcane.
- In November 2016, China’s State Council issued new guidelines to support rural and agricultural entrepreneurship that would reportedly allow rural entrepreneurs to be covered by social insurance and, if they have a residence permit, their children can receive free education at a local school.
- In September 2016, China announced it will reportedly launch IOT pilot projects in 10 provinces. According to a 5-year plan released by China’s Ministry of Agriculture, the use of IOT will encompass 17% of the country’s agriculture sector.
- In April 2016, a report published in China noted that farmers are becoming more unwilling to move to the city/urban centers for work. According to a report that polled Chinese farmers, approximately 51% expressed interest in moving to urban centers, including 11.8% who indicated a “high interest”. The other 49% of respondents expressed no interest in leaving rural areas.
- In December 2015, an IOT (Internet of Things) alliance of companies, led by Daxiangshan Group, was launched in Henan Province.
- In January 2014, China’s Vice Minister of Agriculture launched Internet of Things (IOT) pilot projects in the municipalities of Tianjin and Shanghai, as well as in Anhui Province. In Tianjin, the IOT pilot project focused on milk production monitoring, poultry production monitoring, and climate control in greenhouses.
Hong Kong Trends