Rural Industries Show Strong Growth Momentum in First Quarter

Deep News
Apr 24

Industrial revitalization is a crucial component of rural revitalization. At a press conference held by the State Council Information Office on April 23, Vice Minister of Agriculture and Rural Affairs Mardan Mugait stated that in recent years, various regions have deepened efforts to develop local specialties, strengthen leading enterprises, extend industrial chains, foster new business models, and build brands, driving vigorous growth in rural industries. In the first quarter, rural industries maintained a favorable development trend.

Specifically, the agricultural product processing sector demonstrated steady progress. In the first quarter, the value-added of large-scale agricultural and sideline food processing industries increased by 6.8% year-on-year. In March, the Purchasing Managers' Index (PMI) for national key leading agricultural industrialization enterprises stood at 58.1%, remaining above the 50% expansion threshold. The index rose by 6.8 percentage points month-on-month and 3.8 percentage points year-on-year, indicating a continued improvement in industry sentiment.

Rural leisure tourism also flourished. Holiday and experiential economies have spurred the creation of diverse new rural consumption scenarios. Activities such as experiencing intangible cultural heritage, participating in folk customs, and visiting rural markets have become popular choices. Spring outings to enjoy flowers and take photos have also emerged as trending activities. An increasing number of young people are starting businesses in rural areas, with ventures like homestays and village cafes becoming new avenues for employment.

Integrated industrial development has deepened further. Efforts have been made to support regions in leveraging their unique resources and advantages to actively develop agricultural integration projects. Since the beginning of the year, 40 new distinctive industrial clusters, 50 modern agricultural industrial parks, and 200 strong agricultural industrial towns have been established, creating platforms and highlands for modern agricultural development.

Mardan Mugait emphasized that going forward, the Ministry of Agriculture and Rural Affairs will establish a tiered catalog of rural specialty industries to guide differentiated, clustered, and branded development. The ministry will also cultivate leading enterprises and "chain master" firms to coordinate the advancement of primary processing, deep processing, and the comprehensive utilization of by-products, thereby extending industrial chains. Additionally, efforts will focus on exploring the multiple functions of agriculture and tapping into the diverse values of rural areas. Channels and methods for farmers to participate in rural industrial development will be expanded, and mechanisms for the equitable sharing of industrial value-added benefits will be improved to promote high-quality growth in rural industries.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10