Agricultural facilities purchased by local cooperatives with financial support from the Tongzhou district government [Photo/ntfabu.com]

A total of 6 million yuan ($847,210) is expected to be invested in the construction of new-type farmland cooperatives in Tongzhou district, Nantong in 2020, according to local officials at the district's bureau of finance.

A long-term growth mechanism has been established to boost the collective economic development of local villages.

The investment will mainly be used to build warehouses and processing centers and purchase agricultural machines for pilot cooperatives. The cooperative is expected to drive the development of a village-level collective economy.

The district is also promoting poverty relief through project development. To date, 14,760 square meters of factory buildings have been purchased or built, and 2.17 million yuan has been made in rental income.

The projects are helping improve the local environment and public services, and stable revenue from fixed asset leasing is driving economic development in local villages.