Economy

Grain reserve hits 40% of annual consumption

(Xinhua)
Updated: 2011-03-07 09:13

BEIJING - China's grain reserve has reached 40 percent of annual consumption, much higher than the world standard of 17 to 18 percent, Zhang Ping, minister of the National Development and Reform Commission, said Sunday.

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China's wheat reserve stands at 100 billion kilograms, about the output of one year, he said at a press conference.