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China sees net increase in total arable land area for three consecutive years

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      China

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      China sees net increase in total arable land area for three consecutive years

      2024-09-19 17:01 Last Updated At:18:07

      China has posted a net increase in total area of arable land for three consecutive years, owing to the country's persistent protection of arable land, said the vice minister of natural resources in Beijing on Thursday.

      Since 2021, the total area of the country's farmland has expanded by 17.58 million mu (about 1.17 million hectares), vice minister Liu Guohong said at a press conference.

      Notably, in 2023, provinces in south China saw a net increase of 7.39 million mu (about 492,667 hectares), addressing the issue of arable land increasing in the north while decreasing in the south.

      Liu attributed the significant achievement to the country's sustained efforts to focus on farmland as the lifeline of grain production, improved measures in carrying out reforms, and an accountability mechanism regarding farmland protection.

      "Targeting new challenges in arable land protection, we have managed all farmland repurposed for other uses in a unified manner under the system for offsetting cultivated land, and strengthened dynamic balance over provincial gross arable land. Concurrently, we have improved the economic rewards and penalties mechanism for farmland protection, to ensure that areas protecting arable land do not suffer losses and that farmers who protect farmland receive tangible benefits," he said.

      Concurrently, China has continuously promoted land saving, intensive and efficient application, and orderly pushed reforms for market-based transfers of rural collective land designated for business construction to make good use of rural land assets.

      The country has also strictly controlled the scale of construction land.

      Since 2012, the area of construction land per unit of GDP has slumped by 45 percent, effectively meeting urban and rural development needs.

      China sees net increase in total arable land area for three consecutive years

      China sees net increase in total arable land area for three consecutive years

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      China's Q1 monetary policy signals positivity amid global shocks: expert

      2025-05-10 22:22 Last Updated At:22:37

      China's Q1 monetary policy signals resilience amid global economic uncertainty, boosting confidence in social financing and foreign trade, according to an economic expert.

      A report released on Friday by the People's Bank of China (PBOC), China's central bank, indicates that China's counter-cyclical adjustment of its monetary policy yielded notable results in the first quarter. The total volume of finance had grown steadily, the credit structure had been continuously optimized, and the exchange rate of Chinese yuan had remained generally stable at a reasonable and balanced level, according to the report.

      Specific policy operations have undergone further refinement, said Dong Ximiao, chief researcher at the Merchants Union Consumer Finance Company.

      "With the support of various monetary policies, China's monetary credit has grown reasonably, the overall social financing cost has steadily declined, and the credit structure has been further optimized. The cumulative effects of many years of reserve requirement ratio and interest rate cuts have become more evident, and the overall social financing environment remains relatively relaxed," he said.

      The report also sends new policy signals, including enhanced support for the real economy and efforts to boost consumption, according to Dong.

      "Macroeconomic policies have been actively responding and focusing on key areas, with stabilizing foreign trade becoming an important direction for future policy support. The central bank has recently introduced a timely package of policies. At a critical moment impacted by external shocks, the policies have stabilized the market and expectations, showcasing the positive impact of monetary policy," said Dong.

      China's Q1 monetary policy signals positivity amid global shocks: expert

      China's Q1 monetary policy signals positivity amid global shocks: expert

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