February 27, 2012

China to aid grain processing sector growth

For the 2011-2020 period, China strives to keep on promoting a sustainable and healthy expansion of the grain processing sector.

The Ministry of Industry and Information Technology (MIIT) officially released on Friday (Feb 24) a development plan for the grain processing industry, which outlines development goals and major tasks of this industry, as well as putting forward specific measures to ensure the achievement of these goals.

The country targets a steady increase of the industrial scale, with the total output value expected to reach RMB3.9 trillion (US$0.62 trillion) and RMB6.9 trillion (US$1.1 trillion) by 2015 and 2020 respectively. Meanwhile, efforts are to be made to guarantee the consumption demands of grains. Moreover, the country should notably enhance quality level of grain processing industry, with the total pass rate of rice and wheat flour in 2015 and 2020 reaching at least 98% and 99.5%, that of fodder standing at 93% and 95%, respectively.

The ten-year period (2011-2020) will witness the accomplishment of the following tasks: ensure sufficient supply of grains; accelerate the transformation of development pattern by fostering leading enterprises and guiding enterprises to conduct merger and acquisition in a reasonable way; enhance companies' independent innovation ability; improve the security level of grain processing industry and facilitate industrial cluster.

The Chinese government will further optimise the regulation system to guarantee grain security, strengthen industrial policy guidance, enhance fiscal and financial support, increase investment in technological innovation, and encourage the implementation of "going out" strategy, so as to realise the above goals.