China will accelerate investment in rural infrastructure to improve its ability to secure food supplies while stabilizing the economy, according to a plan published by the Ministry of Agriculture on Tuesday.
The plan, backed by eight ministries and government agencies, comes amid slowing growth in the world’s second-largest economy due to lingering Covid-19 restrictions and a prolonged slump in real estate.
Beijing has already issued a series of measures to try to stimulate the economy in the final months of the year, but ongoing measures to contain Covid-19 are stifling economic activity.
The rural infrastructure plan will target the renovation of irrigation systems, reinforcement of reservoirs, construction of modern greenhouses, as well as cold storage facilities.
Beijing urged deployment to begin as soon as possible, with local governments encouraged to support the projects.
“Strengthening the construction of agricultural and rural infrastructure is a key task to expand effective investment and stabilize the overall economic market,” he said.
Source: CNN Brasil
Joe Jameson, a technology journalist with over 2 years of experience, writes for top online news websites. Specializing in the field of technology, Joe provides insights into the latest advancements in the industry. Currently, he contributes to covering the world stock market.
