China’s State Council is satisfied with the first quarter’s GDP growth numbers but remains concerned about the agriculture sector.
The State Council meeting on Wednesday landed on a common consensus that the first quarter’s economic activities were steady.
The growth, jobs and prices data are within acceptable range. But going forward, the State Council sees agriculture as a critical sector that needs additional reforms, including more creative ways of funding agricultural projects and stronger support for food security.
China is expected to reduce the amount of cash that village commercial banks keep at the central bank to increase financial support for the agricultural development. Job creation would also be crucial for growth to secure social stability and sustainable growth in key industries.
The State Council meeting on Wednesday landed on a common consensus that the first quarter’s economic activities were steady.
The growth, jobs and prices data are within acceptable range. But going forward, the State Council sees agriculture as a critical sector that needs additional reforms, including more creative ways of funding agricultural projects and stronger support for food security.
China is expected to reduce the amount of cash that village commercial banks keep at the central bank to increase financial support for the agricultural development. Job creation would also be crucial for growth to secure social stability and sustainable growth in key industries.
Source: CCTV
