China’s Agricultural Rural Economy Maintains Positive Momentum

On April 30th, the Rural Development Institute of the Chinese Academy of Social Sciences, in collaboration with the Social Sciences Academic Press, released the “Green Book of Rural China: Analysis and Forecast on China’s Rural Economy (2023-2024).” 

The report provides an in-depth analysis of the development trends of China’s agricultural and rural economy in 2023 and offers predictions for the following year. In 2023, China’s agricultural and rural economy has maintained good development, with the added value of the primary industry reaching 8.9755 trillion yuan, an actual growth of 4.05%, and its share in GDP remained stable at 7.12%. Grain production reached a new high, with a total output of 695.41 million tons, a 1.3% increase. Rural residents’ incomes saw relatively rapid growth, with the annual per capita disposable income reaching 21,691 yuan, an actual increase of 7.6%. For 2024, it is expected that agriculture and the rural economy will continue to develop steadily, with the total grain output likely to exceed 700 million tons. The scale of agricultural product trade is expected to remain largely unchanged, while imports of high-value agricultural products such as meat and dairy products are expected to increase. Rural residents' incomes are also expected to continue growing, with the projected per capita disposable income rising to about 23,000 yuan.