The policy of financial support for rural revitalization is blowing frequently. Recently, the People’s Bank of China and the China Banking and Insurance Regulatory Commission have successively issued relevant documents on financial support to comprehensively promote the key tasks of rural revitalization. This year, the No. 1 document of the Central Committee listed “strengthening financial services for rural revitalization” for the first time. Experts said that finance should play a more important role in supporting, consolidating and expanding the achievements of poverty alleviation, and continuously improve the ability and level of financial services for rural revitalization.
Stick to the two bottom lines
This year’s No. 1 Central Document proposed that we must firmly adhere to the two bottom lines of ensuring national food security and preventing large-scale return to poverty.
The People’s Bank of China recently issued the “Opinions on Doing a Good Job in Financial Support in 2022 to Fully Promote the Key Work of Rural Revitalization”. The first article is to “do our best to provide financial services for food production and important agricultural products”; the General Office of the China Banking and Insurance Regulatory Commission issued on April 6. The “Notice on the 2022 Banking and Insurance Services to Comprehensively Promote the Key Work of Rural Revitalization” (hereinafter referred to as the “Notice”) also clearly requires that priority should be given to ensuring food security and financial investment in rural industries.
Yuan Xiaohui, a researcher at the Bank of China Research Institute, believes that the “Notice” mainly clarifies the development direction of financial services to ensure national food security from three aspects: First, deepen the integration of industry and finance and increase financial investment in rural industries. Encourage banks to increase credit support for the construction of a modern rural industrial system, and improve the matching of credit product terms with the agricultural production cycle. The second is to improve the innovation level of financial products and seize new opportunities for the growth of rural industries. Support the construction of high-standard farmland, tackling key agricultural core technologies, increasing soybean and oil production, and ensuring the supply of “vegetable basket” products. The third is to ensure the long-term, continuous and sustainable development of agriculture-related credit, including continuing to provide financing support to agriculture-related industry enterprises seriously affected by the epidemic, avoiding industry-specific loan restrictions, loan withdrawals, and loan suspensions. Companies in special and difficult industries with good prospects will be granted “seamless loan renewal”, etc.
Anhui Xinyuan Agricultural Science and Technology Co., Ltd. is one of the important bases for planting vegetable seedlings in Anhui. In order to introduce and demonstrate the application of smart agricultural technologies such as “Internet of Things +” and “Water and Fertilizer Integration” for vegetable factory production, the financing needs of enterprises have increased. After learning about the financing needs of the enterprise, Everbright Bank quickly followed up, implemented the green approval channel, and completed the loan in just one week.
The person in charge of the Hefei branch of China Everbright Bank told reporters that this is the first loan after the implementation of the special action of financial support for the revitalization of the seed industry in Anhui Province. According to reports, Everbright Bank Hefei Branch and the Department of Agriculture and Rural Affairs of Anhui Province jointly launched a special campaign for financial support for the revitalization of the seed industry. Up to now, more than 70 enterprises in the vaccination industry have invested 150 million yuan in funds.
The person in charge of the relevant department of the China Banking and Insurance Regulatory Commission said that relevant institutions will be required to further improve the quality and efficiency of financial assistance, effectively consolidate the achievements of “two worries and three guarantees”, carry out in-depth health assistance, and provide preferential treatment to the poor in terms of serious illness insurance and medical assistance. , to dynamically monitor and assist eligible objects to prevent their return to poverty, and strive to meet their development, production and financial needs.
Get through the pain points and blocking points of “Sannong”
For banking and insurance institutions, supporting rural revitalization is not only a response to the needs of national policies, but also a major opportunity for their own transformation and development.
Tian Guoli, Secretary of the Party Committee and Chairman of China Construction Bank, said that it is necessary to deeply grasp the strategic opportunity of financial services for rural revitalization and continuously improve the supply capacity of rural revitalization services. Tian Guoli believes that the coverage of financial services in rural areas in my country is constantly improving, but the distribution of financial resources between urban and rural areas is seriously unbalanced, and the dual structure is still prominent. Banks should focus on promoting the inclusiveness of rural financial services, the modernization of agricultural industries, the facilitation of rural public services, and the digitization of rural construction, and adhere to the new ideas of making customers smaller, improving services, and increasing total volume. Provide new solutions for rural revitalization.
In order to explore and solve the “last mile” problem of financial services for rural revitalization, CCB continued to provide services. At the end of 2021, the balance of CCB’s agriculture-related loans was 2.47 trillion yuan, an increase of 376.962 billion yuan or 18.05% over the previous year. In addition, CCB also underwritten and issued 6.7 billion yuan of rural revitalization bonds, and launched 13.647 billion yuan of rural revitalization-themed wealth management products.
To support rural revitalization, it is necessary to increase financial support for rural industries and new business entities. In recent years, the China Banking and Insurance Regulatory Commission has supervised and guided banking and insurance institutions to increase investment in agriculture-related credit and improve the level of agricultural insurance protection by strengthening the guidance of regulatory policies, and relevant work has made positive progress. As of the end of December 2021, the balance of agriculture-related loans was 43.21 trillion yuan, an increase of 11.83% from the beginning of the year, and the balance of inclusive agriculture-related loans was 8.88 trillion yuan, an increase of 17.48% from the beginning of the year, exceeding the average growth rate of various loans by 6.19 percentage points.
Rural construction requires a large amount of medium and long-term credit investment. In this regard, the person in charge of the relevant departments of the China Banking and Insurance Regulatory Commission said that financial institutions will be guided to increase medium and long-term credit investment and actively participate in rural construction. Taking the increase of medium and long-term credit supply as the starting point, it will focus on serving the key areas of rural construction such as rural road transportation, logistics and communication, water supply and power supply, education and health, clean energy, and living environment transformation, and improve the level of rural public service supply. On the premise of not increasing the implicit debt of local governments, explore effective ways of innovative finance to support rural infrastructure construction.
Promoting the digital development of rural finance
The imperfect credit system, lack of credit data and insufficient mortgage guarantee measures in rural areas are the key factors restricting the development of agriculture-related finance.
In terms of credit system construction, the “Notice” mentions that it is necessary to actively promote the construction of agricultural-related credit information data platforms and strengthen the sharing of credit data between departments. In addition, in terms of mortgage guarantee measures, it is necessary to improve the credit enhancement mechanism for agriculture-related entities and the risk-sharing compensation mechanism for agriculture-related loans, so as to give better play to the role of the government financing guarantee system; The range of goods is guaranteed.
Zhang Zhongning, deputy director of the General Office of the China Banking and Insurance Regulatory Commission, said that in recent years, the China Banking and Insurance Regulatory Commission has focused on building a modern rural industrial system, giving full play to its advantages in financial funds and technology, increasing the proportion of policy-based on-lending business in rural revitalization, and guiding banking institutions to accelerate the promotion of new The filing and rating of agricultural business entities is basically covered, and loans that meet the financing needs and characteristics of new agricultural business entities are vigorously developed.
The “Notice” clearly requires that all banking and financial institutions actively use digital technology to extend the boundaries of basic financial services; make full use of various digital technologies to carry out financial services for agriculture-related entities and improve the efficiency of agriculture-related financial services.
Yuan Xiaohui believes that with continuous breakthroughs in key areas such as digital villages, the digital development of rural finance will become a new direction for the development of agriculture-related financial service models.
Zhang Zhongning said that the digital development of rural finance will be promoted. Banking institutions are encouraged to conduct bulk customer acquisition, accurate portraits, and automated approval based on big data and specific scenarios under the premise of compliance with laws and regulations and controllable risks. Service efficiency and service radius. Insurance institutions are encouraged to widely use technical means such as big data, cloud computing, and blockchain to improve the mechanism for accurate and efficient inspection of bids, survey and loss determination. (Economic Daily reporter Lu Min)Return to Sohu, see more
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