Futures Market News
China aims to strengthen grain harvest in 2011
Dec 28, 2010 02:03 PM
As part of an effort to preserve the strength of its grain harvest, China will invest 200 billion yuan (more than $30 billion) next year on infrastructure projects, particularly those enhancing the nation's irrigation system, according to a published report.
The nation is devoting special attention to projects that minimize and prevent damage from drought and floods while also eyeing an upgrade of the water supply infrastructure in regions where agricultural production is high, according to Reuters, which cited a report from China Daily. Next year's allotment is 10 percent higher than this year's.
"Over the next 10 years, Chen said he hopes the country can double its current average annual investment in water conservation construction," the report said, citing water resources minister Chen Lei's statement to a government meeting.
China's central concern is the production of grain, according to the director of the rural work leading group for the Chinese government.
"We have to accelerate the construction of water conservation facilities as one of the key infrastructures the country needs to secure increasing grain production," Chen Xiwen said. "We must address issues arising from the country's rapid urbanization, which has consumed land that used to be used for farming."
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