Beijing | Reuters – Chinese authorities on Friday called for increased financial support to stabilize key agricultural products, including grain, as part of broader efforts to ensure food security for China’s 1.4 billion population.
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The government pledged to strengthen the use of monetary policy tools such as relending and rediscount facilities, and reserve requirement ratio, to support agriculture and small businesses, according to a joint statement from the central bank, the agriculture ministry and the financial regulator.
The government also urged expanding credit and pledge loans for agricultural assets and livestock, enhancing farmers’ income through guarantee and small loans, and reinforcing the agricultural insurance system, particularly for grain planting.
In addition, the government pledged greater support for major agricultural research projects and leading firms.
In recent years, China has increased investments in farm …