China Thursday announced to raise the compensation for farmers
whose land is acquired to sustain their current living standard and
guarantee their long-term rights, according to an official
statement.
China will also strengthen the management of land transfer
revenue, according to the statement from the executive meeting of
the State Council on July 25 presided over by Premier Wen Jiabao.
According to the meeting, revenues from land-use rights transfer
will wholly go to the budget of local governments, and then the
revenue and expenditure will be managed separately.
(Xinhua News Agency July 27, 2006)
