Agriculture tax schedule sped up

The agriculture tax imposed on all Chinese farmers will be removed within three years, according to Chinese media reports. Premier Wen Jiabao announced at the National People's Congress in March that the tax would be decreased over a five-year period and then abolished. The government receives around US$3.6 billion to US$4.8 billion annually from the tax. The plan to speed up removal of the agriculture tax is aimed at stimulating the rural economy, which is plagued by poverty and unemployment, according to analysts.