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 DEVELOPMENT OF CHINA'S INDUSTRY |
| In 2008, the planted area of grain of China totaled 106.7mn ha, 1.06mn ha more than that in 2007; the planted area of cotton, 5.76mn ha, 170,000ha less than that in 2007; the planted area of oil crops, 12.71mn ha, 1.39mn ha more than that in 2007; and planted area of sugar crops, 1.93mn ha, 130,000ha. |
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| STATUS OF FOREIGN INVESTMENT |
| According to the statistics of MOFCOM, 515 foreign investment projects in Agriculture industry (Agriculture Industry (Code A01) hereinafter is in accordance with the National Economic Industrial Classification (GB/T4754-2202£©.) were newly set up. in 2009, 45 more than that of the same period in the last year, and the amount of the actual utilized foreign capital reached USD 751,280,000, up by 35.49£¥ year-on-year. |
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| COMMITMENTS TO THE WTO AND INTERNATIONAL PRACTICES |
| After china's accession to the WTO, the non-tariff measures should be abolished and only tariff measures are allowed to be used in the administration of the agricultural imports. According to the Protocol of Agriculture, the conversion into tariffs should take the period of 1986-1988 as the calculation base. |
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| DEVELOPMENT OF GLOBAL INDUSTRIES |
| In terms of American agricultural trade, trade outlook report by the United States Department of Agriculture (thereafter referred to as USDA) revealed in November that in fiscal 2006, its agricultural exports increased drastically and reached record high of 68,721 million U.S. dollars, up 10% over the previous year. The exports mainly fell on corn, cotton and raw meat, their sales growth all exceeding 20%. |
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