New Century Shifting in the Campaign to Increase Farmer Income

Shi Cheng

Chapter 11 in China’s Rural Industrialization Policy, 2006, pp 292-307 from Palgrave Macmillan

Abstract: Abstract Entering the twenty-first century, China continued to maintain a fast growth and its per capita GDP surpassed 1,000 US dollars. In 2003, China’s GDP grew at an annual rate of 9 percent, the highest one in the world. Similarly, TVEs expanded rapidly and output (value added) was about 3,660 billion yuan with an annual growth rate of 13 percent in 2003. However, under the high-speed growth, the so-called “three rural issues”1 about the development of rural areas, farmers and agriculture in China were becoming increasingly serious. First is the slow agricultural development with a grain reduction. In 2003, China’s grain-sown area decreased and the grain output was 431 million tons, a cut of about 5.8 percent annually. The annual growth rate of agriculture (value-added) was 2.5 percent, far behind the rate of 12.5 percent of its industry (SSB, 26 February 2004).

Keywords: Commercial Bank; Small City; Rural Labor; Credit Guarantee; Credit Service (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-50171-3_12

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DOI: 10.1057/9780230501713_12

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