China to extend land contracts for 30 years

Beijing. March 6. Silkroadnews - In 2018, the Chinese government will pursue a policy of extending the second round of rural land contracts for another 30 years after their expiration, Prime Minister Li Keqiang said, Ecns.cn portal reports.
The extension of contracts is a part of strategy for the revitalization of China’s agriculture, and is aimed to give stable expectations on land contracts. According to Li, this reform will be experimenting with separating the ownership rights, qualification rights as well as use rights for rural land designated for housing, the report reads.
The reform, as noted, will also include supply-side structural reform of agriculture; new types of agribusiness introduction and commercial services specially designed for small agricultural households.