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China to promote public-private partnerships in agriculture

Staff Writer |
China's government said it will promote public-private partnerships in its agricultural industry, the latest step to open up and modernise the nation's vast farming sector.

Two key government bodies said in a joint statement they would support private capital being injected into areas of the sector such as crop and livestock protection, infrastructure development and improving the quality of farmland.

China has used the PPP financing model to boost other sectors as growth in the world's second-largest economy slows and the government aims to clamp down on traditional off-balance sheet borrowing methods used by local authorities.

Finding new ways to fund rural economic growth would help develop one of the nation's largest industries, which has been reliant on government cash until now.

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