China Issues 13th Five Year Plan for the Agricultural Product Processing Industry

On November 17, the Ministry of Agriculture of China (MOA) issued the National Agricultural Product Processing Industry and Rural Primary, Secondary and Tertiary Industry Integrated Development Plan (2016-2020). The Plan aims to have an average annual growth rate of 6% in operating revenue of above-scale agricultural processing industry over the next five years, and promotes the integration of the primary, secondary and tertiary industries in rural areas. To effectuate the implementation, the Plan calls on the government to establish an industry integrated development guidance special fund, increase various existing government funds, improve preferential tax policy, and expand the scope of preferential electricity policy.