Farmers and agricultural innovators in China will receive enhanced financial services and aid under a new five-part plan announced Monday.
The initiatives, released by the country's central bank and four other competent central government agencies, aim to enhance financial support for rural revitalization.
One of the initiatives focuses on ensuring food security by extending financial services across the entire agricultural supply chain, including production, distribution, storage and processing. Innovations in financing models for high-standard farmland and facility agriculture, which adopted technologies to increase grain production, are also included in the initiative. Additionally, support will be provided for the development of the seed industry and agricultural technology, including facilitating the listing and refinancing of eligible seed companies.
Another initiative aims to consolidate and expand financial assistance, maintaining differentiated support policies for key counties that receive assistance and ensuring credit provision in areas that have been lifted out of poverty. Plans are also underway to establish sustainable financial aid mechanisms beyond the poverty alleviation transition period.
Furthermore, efforts will focus on promoting the development of various industries in rural areas through diverse financing channels such as loans, bonds, equity and leasing. This initiative seeks to broaden collateral options and revitalize rural assets to foster the integrated development of primary, secondary and tertiary industries in rural areas, ultimately boosting rural incomes.
By actively engaging in the financing for projects like county-level logistics distribution centers and leveraging pivotal nodes within rural logistics networks, the initiative seeks to foster a profound integration of capital flow, business operations and logistics to facilitate high-quality development in rural circulation.
In addition, the notice outlines ways to support rural construction through financial products aimed at improving living environments and advancing ecological civilization in rural areas. Financial backing will be strengthened to enhance rural infrastructure and public service facilities, supporting integrated urban-rural development at the county level.
The final initiative targets the enhancement of rural governance through innovative financial models that integrate the agriculture, culture and tourism sectors. Basic financial services in rural areas and digital platforms for rural revitalization will be improved to pool agricultural information and support digital village construction.