Home PoliticsAmerica Farmers in China Get Support: Contrast to Western Policies $JFIN

In recent times, China has emerged as a global advocate for safeguarding the livelihoods of its farmers, implementing measures to bolster their economic resilience. This stands in stark contrast to Western countries, where increasing tax burdens are perceived as jeopardizing the existence of the agricultural community.

China’s proactive approach involves a combination of policy initiatives aimed at supporting farmers and ensuring food security. The country has implemented subsidy programs, provided technological assistance, and facilitated access to credit for agricultural enterprises. These efforts are integral to elevating the socio-economic status of farmers and securing the nation’s food production capabilities.

Conversely, some Western nations have faced criticism for imposing heavy taxes on farmers, leading to financial strain and, in some cases, the decline of small-scale agricultural operations. High property taxes, stringent regulations, and tariffs on agricultural exports have compounded the challenges faced by Western farmers, potentially endangering the future of the sector.

China’s commitment to fortifying its agricultural foundation not only ensures domestic food security but also contributes to global food stability. As the nation continues to implement farmer-friendly policies, the divergence in strategies between China and certain Western counterparts becomes increasingly apparent. The success of these contrasting approaches may significantly shape the future landscape of global agriculture.

With the release of a key official document on Saturday, China has drawn a roadmap for advancing rural revitalization across the board, and for accelerating the building up of its agricultural strength.

The “No. 1 central document” for 2024, the first policy statement released by the central authorities, outlines tasks from ensuring the grain supply and promoting the development of rural industries, to raising the level of rural construction and enhancing rural governance.

It also stresses the need to utilize the experience of the Green Rural Revival Program.

The document highlights two bottom line requirements, three areas for improvement and two fronts to be strengthened, Han Wenxiu, head of the Office of the Central Rural Work Leading Group, said at a press conference on Sunday.

The document underlines that China should maintain the bottom line of safeguarding national grain security and avoiding a large-scale return to poverty.

China’s grain output hit a record high of 695.41 million tonnes in 2023. Adequate food supply and inventories provided strong support for the sustained recovery of the economy. However, factors including the grim global grain security situation, the frequent occurrence of natural disasters and a large population base have posed challenges, according to the office.

To these ends, the document puts forward measures including strictly implementing the farmland protection system, strengthening agricultural infrastructure construction, and establishing a modern agricultural management system, among others.

To avoid a large-scale return to poverty, the country should focus on implementing the monitoring and support mechanism for preventing a regression into poverty, strengthening industrial and employment support, and enhancing the internal development momentum of areas and people that have been lifted out of poverty, said Han.

The three areas for improvement refer to enhancing rural industrial development, rural construction and rural governance.

Efforts should be made to adhere to the industrial, quality and green development of agriculture, accelerate the construction of a modern rural industrial system, and turn agriculture into a large modern industry, according to the document

To enhance rural development, the country will focus on improving rural infrastructure, the living environment and public services based on local conditions, and the needs of the rural population, said Han.

He said that improving the rural governance system that combines autonomy, the rule of law and the rule of virtue under the Party’s leadership, and ensuring social stability and tranquility in rural areas, are key to rural governance.

Two fronts to be strengthened refer to strengthening the dual drivers of technology and reform in promoting rural revitalization and measures to increase farmers’ incomes.

The country will promote scientific and technological innovation and institutional innovation to add impetus and vitality to rural revitalization, take various measures to strengthen vocational skills training for rural migrant workers, and make full use of rural resources to support farmers in increasing their incomes, according to the office.  

Shayne Heffernan

You may also like

logo-white

Your Trusted Source for Capital Markets & Related News

© 2024 LiveTradingNews.com – For The Traders, By The Traders – All Right Reserved.

The information contained on this website shall not be construed as (i) an offer to purchase or sell, or the solicitation of an offer to purchase or sell, any securities or services, (ii) investment, legal, business or tax advice or an offer to provide such advice, or (iii) a basis for making any investment decision. An offering may only be made upon a qualified investor’s receipt not via this website of formal materials from the Knightsbridge an offering memorandum and subscription documentation (“offering materials”). In the case of any inconsistency between the information on this website and any such offering materials, the offering materials shall control. Securities shall not be offered or sold in any jurisdiction in which such offer or sale would be unlawful unless the requirements of the applicable laws of such jurisdiction have been satisfied. Any decision to invest in securities must be based solely upon the information set forth in the applicable offering materials, which should be read carefully by qualified investors prior to investing. An investment with Knightsbridge is not suitable or desirable for all investors; investors may lose all or a portion of the capital invested. Investors may be required to bear the financial risks of an investment for an indefinite period of time. Qualified investors are urged to consult with their own legal, financial and tax advisors before making any investment. Knightsbridge is a private investment firm that offers investment services to Qualified Investors, Members and Institutions ONLY. Qualified Investors are defined as individuals who have met those Qualifications in the relevant jurisdictions. Members are defined as individuals who have been accepted into the Knightsbridge membership program. Institutions are defined as entities such as banks, pension funds, and hedge funds. If you are not a Qualified Investor, Member or Institution, you are not eligible to invest with Knightsbridge. All investments involve risk, and there is no guarantee of profit. You may lose some or all of your investment. Past performance is not indicative of future results. Knightsbridge is not a registered investment advisor, and this disclaimer should not be construed as investment advice. Please consult with a qualified financial advisor before making any investment decisions. By accessing this website, you agree to the terms of this disclaimer. Thank you for your interest in Knightsbridge.