Xinhua reported that China has earmarked CNY 716.1 billion from the central budget this year for agriculture, rural areas and farmers.

China’s ministry of finance in a statement said that China to deepen reform of rural credit cooperatives vice premier. That was CNY 120.59 billion more than that in 2008, which has helped to further stabilize the development of the agriculture and increase farmers' income.

The statement said farming related subsidies including subsidies for food, agricultural material, seeds and agricultural machinery and tools in 2009 stood at CNY 123.08 billion up by 19.4%YoY.

A total of CNY 264.22 billion were allocated to improve agricultural infrastructure construction, including reinforcing the dilapidated small-sized reservoirs and purifying small-sized contaminated watersheds.

(Sourced from Xinhua)