February 6, 2012

China to raise 2012 investment in agricultural, rural areas

In 2012, China will still raise investment in agriculture, rural areas and farmers, stated Chen Xiwen, director of the Office of Central Rural Work Leading Group on Thursday (Feb 2).

The country's central and local governments spent more than RMB2.5 trillion (US$396.72 billion) in the three fields last year with central coffer's investment topping RMB1 trillion (US$158.51 billion) for the first time, Chen noted.

Such an investment accounted for over 30% of the national fiscal revenue of RMB8.3 trillion (US$1.32 trillion) in 2010, according to Chen.