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China to reform pricing and inventory mechanism for farm produce

Updated: Dec 22,2016 9:39 AM

Here is what one farming official had to say about protecting the livelihood of China’s farmers in the face of current challenges in agriculture.

“Our reforms should protect the interest of farmers, and give food producing incentives to farmers. We will make sure agricultural prices are determined by the market, and we will further improve our farming subsidy policies to protect the industry,” said Han Jun, deputy director of the Central Agriculture Work Leading Group.

Officials say the biggest challenge for China’s agricultural sector isn’t about reaching production goals anymore. That’s because the sector now faces a rising level of structural issues, including a frequent imbalance between supply and demand. Therefore, officials say the focus will be on advancing structural reforms. Officials say the key to the reforms will be upgrading the pricing and inventory mechanisms for farm produce.