China on Wednesday announced plans to further rural development by increasing the allocated budget for the agricultural sector and augmenting farmers' income by boosting integrative development of primary, secondary and tertiary industries. 

An official policy document posted by the Communist Party of China Central Committee and the State Council said the agricultural sector is a fundamental area for fixed-asset investment. Thus, the Chinese government plans to increase subsidy to poor farmers and create irrigation programs, wholesale produce market, and industrial convergence in rural communities. 

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It also aims to provide cutting-edge innovation that will allow faster processing of agricultural products by developing more advanced equipment and disposing of those that are obsolete. Authorities are also seeking to promote agricultural products by putting up a unified and competitive market.

Additionally, the government plans to introduce alternative income through promoting tourism in rural destinations. It will allocate a budget for infrastructural projects in prime spots and allot private capital for projects that will propitious for farmers.

The document further stipulates that central authorities are committing financial grant to these core areas as well as protecting farmland and improving grain production. Furthermore, financial establishments are also encouraged to make more loans available for agricultural businesses.

It further states that a new scheme like distributing shares of leading enterprise to farmers should be suggested so that all rural residents receive a share of the profit from all the stages of the industrial chain including production, processing, and sales.

For quite sometime, the income range of rural residents has witnessed a stagnant growth. Last year, the rural per capita disposable rose almost 9 percent year on year to about at 11,422 yuan ($1,743), a weaker growth from 2014's 11.2 percent.

Tagschina, agriculture, Communist Party of China Central Committee, State Council, gap between rural and urban teen suicide rate, rural areas