Nikkei:

Since last year, China's government has introduced a series of policies to increase its self-sufficiency rate of soybean. How have they been working out so far? Thank you.

Zhang Wufeng:

Mr. Su will answer your question.

Su Wei:

Thank you for your question. As we all know, China is the country of origin for soybeans, and has advantages in soybean production. In recent years, as an important measure for the agricultural supply-side structural reform, relevant departments have formulated the Implementation Plan for the Rejuvenation of Soybean Production to promote the recovery and development of soybean production. There are clear goals to achieve the following: An overall soybean planting area of 140 million mu (9.3 million ha) by 2020 and an average yield per mu of 135 kilograms. We aim to also increase both the protein content of edible soybean and fat content of soybean for oil by 1 percentage point and to maintain negative growth in the usage of chemical fertilizers and pesticides. Relevant national departments are actively implementing the objectives and measures in accordance with the plan, which will show results gradually. Thanks.    

CNR: 

We know that the grain reserve system is an important system to guarantee national food security. For many years, China has been strengthening its management in this area, but some concerns still linger on in society. Can China's grain reserves still guarantee market supply? Do we have enough grain to ensure that? Thanks.

Zhang Wufeng:

Thank you. Mr. Huang will answer your questions.

Huang Wei:

Thanks for your questions. I'd like to share the latest data with you. This year, the State Council carried out the third inspection on our national grain reserves. The first two inspections were in 2001 and 2009. We focused on the quantity and quality of our grain reserves. A total of 17,000 warehouse storage points and 190,000 cargo spaces were inspected. According to this inspection, the grain reserves in China can meet the standards required for national food security.

We all know that the grain reserve system is important to guarantee national food security. For China, a country with a population of 1.4 billion, this is particularly important. That's why the Chinese government has paid much attention to it. Through many years of work, we have taken a series of measures to efficiently manage the reserve system. This May, General Secretary Xi Jinping presided over the eighth meeting of the CPC Central Committee for deepening China's overall reform. Opinions on the reform of the grain reserve system were passed during the meeting, which highlighted the direction and provided follow-up for the further strengthening of the management of our reserves.

As for your questions about whether the reserves can meet the market needs, I can share some facts with you. Since the reform and opening up, China's grain reserves have increased along with its grain output. We continue to guarantee grain reserves at the central level. Since 2015, we have also increased grain reserves at the regional level. For example, the areas where more grain is produced than sold are required to guarantee the market supply for three months; the areas where more grain is sold than produced should guarantee the market supply for six months; and for those areas where the grain produced equals the amount sold, they should guarantee the market supply for four and a half months. As for the current status of China's grain reserve structure, wheat and rice take up for 70% of the total grain. In general, China's grain reserves can completely meet the market needs and deal with any potential emergencies.