The Communist Party in China has announced a new land use policy. The plan is an attempt to jump start the agricultural sector that is still hurting by the old collectivization policies of Mao Zedong. The goal is to help the agricultural sector of the economy, which has mostly been bypassed by the recent economic boom.
Currently, farmers retain the proceeds from their crop sales, but do not own the land. Under the new plan, farmers will be able to lease, swap, subcontract, and transfer land use rights. Government officials hope that this new plan will double the disposable income of over 73o million residents to more than $1,200 by 2020.
(Article from Time Magazine; November 3, 2008)
2 comments:
Is the article linked? Somehow I can't find it.
The article was taken from Time Magazine dated November 3.
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