(ECNS) - China is revising its regulations over land contracts in rural areas, according to Han Jun, deputy director of the Office of the Central Leading Group on Finance and Economic Affairs.
China's management of land transfers still lags behind some countries in the European Union, and the amendment partially reflects China's policies on rural land transfers, Han said Sunday at the CEIBS-UNESCO-CHIC 4th China Agri-Business Forum 2015 held on the Beijing campus of the China Europe International Business School (CEIBS).
When China joined the World Trade Organization in 2001, it promised that subsidies would not exceed 8.5 percent of its agricultural output. However, some of the country's agricultural products still exceed that limit, according to Han.
China is studying the experience of the EU in cutting agricultural subsidies, Han said, adding that China will make adjustments this year to make subsidies irrelevant to the price of agricultural materials.
