The State Council met on April 22, 2009 to discuss stimulus measures to stabilize the Chinese agricultural sector amid the international financial crisis, reported Xinhua. Premier Wen Jiabao presided over the Council’s executive meeting. The meeting reached a consensus that the international financial crisis is deepening and its negative impact on the Chinese agricultural sector is emerging. With global commodity demand shrinking and prices falling, the downturn of agricultural exports coupled with slack domestic growth has pushed down agricultural prices and production efficiency in China, making it increasingly difficult to maintain a stable agriculture sector and to increase farmers’ income.
Source: Ministry of Agriculture, April 23, 2009