Farming, Science, Education to Get 180 Billion Yuan in 2002: Minister

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Last updated at: (Beijing Time) Wednesday, March 06, 2002

Farming, Science, Education to Get 180 Billion Yuan in 2002: Minister

China's finance minister said Wednesday that the government will increase investment in agriculture, science and education in 2002, so as to promote the development of key undertakings.

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China's finance minister said Wednesday that the government will increase investment in agriculture, science and education in 2002, so as to promote the development of key undertakings.

Finance Minister Xiang Huaicheng said this while delivering the Report on the Implementation of the Central and Local Budgets for 2001 and on the Draft Central and Local Budgets for 2002, at the on-going session of the National People's Congress.

Xiang stressed that agriculture is the foundation of the national economy. Promoting rural economic development and increasing farmers' incomes are an important effort and a long- term measure to expand and foster domestic demand, he said, adding that financial departments will further increase investment in agriculture.

To improve the ecological environment, in 2002 the government will continue to implement projects to protect natural forests, restore 2.27 million hectares of cultivated land to forests and plant 2.66 million hectares of barren hills and uncultivated land with trees and grass.

Expenditures for these projects in the central budget amount to 20.6 billion yuan (not including expenditures covered by additional treasury bonds), he said.

Investment from treasury bonds will include 13.7 billion yuan of expenditures for accelerating the upgrading of power grids in rural areas and 23.9 billion yuan of expenditures for stepping up construction of water conservancy facilities in the central budget to improve conditions for agricultural production.

The reform of taxes and fees in rural areas will be introduced to about one-third of all provinces in the country and an additional 15 billion yuan will be specially transferred from the central budget for 2002 to promote the reform of taxes and fees in rural areas, standardize the order in rural income distribution and lighten the financial burden on farmers.

Expenditures for comprehensive agricultural development, agricultural science and technology and anti-poverty efforts in the central budget for 2002 will total 27.4 billion yuan to adapt to changes in agricultural development following China's entry into the World Trade Organization and increase the agricultural competitiveness.

Expenditures for subsidizing local grain risk funds from the central budget for 2002 total 17.3 billion yuan to reform the grain distribution system and increase the incomes of farmers in major grain-producing areas.

"The strategy of developing the country through science and education is an important condition for ensuring that we are in a strong position in fierce international competition," the minister said.

A total of 25.1 billion yuan of expenditures for education and a total of 40.8 billion yuan of expenditures for science and technology are earmarked in the central budget for 2002 to accelerate the development of science, technology and education, raise the quality of the whole nation and further strengthen the country's international competitiveness.

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