精彩内容 Our principal policies and measures have consisted of the following: First, we strengthened the agricultural sector. The high industrial growth rates of 1992 and 1993 came at the expense of the agricultural sector and the interests of the farmers, and the result was skyrocketing prices for edible grains. During the three-year period between 1994 and 1996, we twice raised the government purchase prices for grains and cotton. We also adopted a series of measures to stabilize produc-tion relationships in villages, ensure the supply of agricultural inputs such as chemical fertilizers, and reduce the tax burden of farmers.
These measures had the effect of motivating farmers to produce. In each of the past two years, edible grain production increased by more than 20 million tons. This summer we had another bumper grain crop,so although the autumn harvest may decline due to weather conditions,grain production for the entire year won't be much less than that oflast year, which was an exceptionally good year. The abundant grain supply has stabilized the price of food, which accounts for a large share of
household consumption budgets. This was an important reason for the rapid decline in the rate of price increases.
Second, beginning in the second half of 1993, we restored order to the financial sector and implemented appropriately tight fiscal and monetary policies. We were able to restrain excessive increases in the money supply and the over-expansion of fixed investment. Compared to 1993, the rate of growth of aggregate fixed investment in 1996 dropped from 61.8 percent to 18.2 percent and the rate of growth of the broad money supply (M2) dropped from 37.3 percent to 25.3 percent, thus ensuring the basic equilibrium of the macroeconomy.
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