John Phillips | Digital Editor for CNBC.com
China will deepen its rural reforms as part of efforts to revitalize the agricultural sector and bolster food security in the face of U.S. tariffs, an economic slowdown and climate change, state media reported on Sunday, citing a rural policy document.
The State Council’s annual rural policy blueprint, known as the “No.1 document”, outlined plans to improve rewards and subsidy systems for major grain-producing areas, promoting the industrialization of biotech cultivation among other measures, state news agency Xinhua reported.
Grain production in the world’s top grain importer reached a record high of 706.5 million metric tons last year, up 1.6% from 2023.
The latest policy guideline sharpens China’s focus on self-sufficiency and supply stability to counter potential disruptions to agricultural trade with the United States, the European Union and Canada.
While approval has been granted for GM and gene-edited soybeans, wheat and corn, planting remains limited and closely controlled, with progress and scale of cultivation unclear.
The document said China would monitor and regulate pig production capacity and support the beef and dairy cattle industries while encouraging financial institutions to increase funding for rural revitalization.