BEIJING, Sept 23 (Reuters) - China will raise the share of government land sales revenue that goes into the farming sector and rural areas to more than 50% by 2025, the cabinet said in guidelines published on Wednesday.
Land sales have been a vital source of revenue for local governments, as they typically acquire land from farmers at knock-down prices and re-sell the land for property and industrial development, triggering protests by farmers.
For a long time, land transfer incomes have been mainly used to fund urban and industrial development, leaving only a small proportion for agriculture and rural areas, the cabinet said.
“We should adjust the urban-rural distribution land transfer income, steadily increase the proportion of land income used for agriculture and rural areas,” the guidelines said. (Reporting by Kevin Yao; Editing by Andrew Heavens)
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