chapter  8
14 Pages

China’s rural reform and development after the Asian fi nancial crisis

After Asia’s fi nancial crisis broke, the Central Committee of the Communist Party of China and the State Council aimed to increase demand in the domestic market over time. With the majority of the population living in rural areas, the rural market was the obvious key to expand domestic demand. In the 10 years that followed the 1997 Asian fi nancial crisis, China developed and implemented policies to promote the growth of the rural economy in every way and specifi cally sought to raise farmers’ incomes.