August 22, 2013

In order to promote agricultural modernisation, the Chinese government has allocated RMB500 million (US$81.2 million) to promote large-scale farming; support farmers in joint partnership, family farms or cooperatives; and to boost agriculture-related technological innovation, as announced by the Ministry of Finance on Friday (Aug 16).

The fund will be channelled to eight provinces, including Jiangsu, Anhui, Shandong and Hunan.

In April, the State Council - China's cabinet - rolled out its first major reforms in agriculture since its inauguration, floating schemes to accelerate modernisation.

The development of modern agriculture practices is "an important strategic mission" that will sustain economic growth, increase income for farmers and improve people's well-being, according to a statement issued by the State Council in April after an executive meeting presided over by Premier Li Keqiang.