At the October 9 - 12 3rd Plenary Session in Beijing, the Communist Party of China Central Committee announced a plan to boost rural income, setting a target to double the current level of rural income by 2020. As part of this initiative, the government plans to launch a major land reform that would afford legal protection to farmers, giving them the ability to lease or sell the rights to farm their land. Land could also be used as credit collateral. Other government strategies would be to substantially increase subsidies offered to grain growers for the 2009 season and increase minimum support prices. Cotton profitability as a chosen cash crop in eastern China will further erode as a result of these initiatives.
