3. Unremittingly doing our work related to agriculture, rural areas, and farmers well, and consolidating and strengthening the position of agriculture as the foundation of the economy
We carried out agricultural modernization while deepening industrialization, application of information and communication technologies (ICT), and urbanization, and we pooled resources to accomplish a number of major tasks that are important to the long-term development of agriculture and rural areas and to the vital interests of farmers.
-- We increased central government spending on agriculture, rural areas and farmers, which totaled 4.47 trillion yuan for the past five years and rose by an average annual rate of 23.5%.
-- We established a sound system for subsidizing grain farmers and a sound mechanism for subsidizing major grain-producing areas, broadened the coverage of the subsidies, and raised them every year, from 63.9 billion yuan in 2007 to 192.3 billion yuan in 2017.
-- We provided more rural financial services, and the outstanding balance of bank loans to agriculture, rural areas and farmers increased from 6.12 trillion yuan at the end of 2007 to 17.63 trillion yuan at the end of 2017.
-- We carried out the policy of minimum grain purchase prices and raised the floor prices for wheat and rice between 41.7% and 86.7%.
-- We intensified protection of farmland and farmers' rights and interests, and made a lot of preparations to improve the system of compensating for expropriation of rural collective land.
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