Business
21:36, 02-Apr-2018
China to complete full check of rural collective assets on schedule
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China will complete a full-scale survey of collectively-owned rural assets by the end of 2019, the Ministry of Agriculture and Rural Affairs has announced.
The move will ensure more efficient use of assets, new growth for the rural economy and increased incomes for farmers, the ministry said.
Preparatory work should be completed by the end of April, with coordination by various levels of rural authorities.
In late 2016, a guideline on rural collective property rights was released, allowing farmers to turn their rights into shares and acquire corresponding income.
In essence, the reform enables farmers to receive dividends like shareholders and help to reduce the urban-rural income gap.
The guideline stipulates that asset checks should be finished within three years, and reform of operating assets completed within about five years.
In China, rural collective assets consist of three categories: resources – land, forest, hills and grassland; operating assets or assets for production or commercial use – rural firms capable of generating revenue and means of production such as machinery and rural infrastructure; and non-operating assets, such as facilities only for public interest.
Source(s): Xinhua News Agency