Chinese Firm May Have Purchased 5% of Ukrainian Land

There have been reports from Chinese sources saying that 3 million hectares of land in the Ukraine was sold to the Xinjiang Production and Construction Corps, or XPCC in China. There have been reports from Chinese sources that 3 million hectares of land in the Ukraine was sold by KSG Agro, an agricultural company, to the Xinjiang Production and Construction Corps, or XPCC, in China. The agreement reportedly said that for the next 50 years the XPCC would be able to farm the area which totals around 5 percent of the land in the Ukraine. But the reports have been disputed in a statement by KSG Agro in the Ukraine that says: "KSG Agro does not intend or have any right to sell land to foreigners, including the Chinese." The deal allegedly includes XPCC helping to build a highway in Ukraine's Autonomous Republic of Crimea and a bridge that crosses the Strait of Kerch, which is an industrial and transportation hub in the Ukraine. Also as part of the alleged agreement, crops and pigs that are raised on the land must be sold at special prices to two government owned grain firms in China. Because China approximately consumes a fifth of the world's resources and has only 9 percent of the world's farmland, they have been buying up foreign farmland more aggressively than other wealthy nations.