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CHINA TO RAPIDLY RAMP UP ITS FARM MACHINERY MANUFACTURING
Jul. 16, 2010
Farm Equipment magazine reports:
Believing that China is now at a critical transition stage in its development from traditional labor-intensive farm production to that which is more reliant on machinery, the country's State Council announced on July 9 that it will take measures aimed at the "sound and fast" development of its farm equipment industry.
According to a report from iStock Analysts, China's domestic agricultural machinery manufacturers are being encouraged to set up research and development centers with foreign companies through joint ventures. This is aimed at reducing China's dependence on imports of advanced technologies.
In a document issued by the State Council, or Cabinet, the government will encourage the restructuring of agricultural machinery makers to form large companies that are highly competitive.
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