BEIJING: China’s ruling Communist Party approved a major economic reform plan on Sunday that will allow farmers to trade and mortgage their land rights and help bolster the nation’s food security.

The move is part of a wider package of reforms aimed at reducing a gaping rural-urban income gap that has expanded during 30 years of capitalist market policies.

The package was approved at an annual meeting here chaired by President Hu Jintao of up to 500 members of the party’s central and disciplinary committees and other key officials, according to a statement carried by Xinhua news agency.

The communique did not give specific details about the reforms.

Beijing-based academic Russel Leigh Moses said policies approved by the party are traditionally placed before the National People’s Congress, China’s parliament, for approval at its annual session the following March.—AFP