China eyes farmland investments abroad
12 May 2008
A proposal by China's Ministry of Agriculture will encourage Chinese companies to buy farmland abroad, especially in Africa and South America, to help guarantee food security, the Financial Times reported. The proposed plan would make supporting offshore land acquisition by domestic agricultural companies a central government policy. Beijing currently has similar policies to encourage outbound investment by banks, manufacturers and oil companies, but agricultural investment has been limited. Though China remains a net exporter of agricultural commodities, it is increasingly reliant on imports, as rising wealth has shifted dietary habits away from staple foods.
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