Financial support for agro-sector urged
Print Edition
CHINA’S banking regulator yesterday urged financial institutions nationwide to channel more financial support to rural areas to help modernize the agriculture sector.
Chinese commercial banks should increase the number of loans and financial bonds they give to rural regions, the China Banking Regulatory Commission said. Agricultural infrastructure, including water conservation projects and road construction, in under developed areas will be prioritized.
China Development Bank should improve services and funding channels, strengthen medium and long-term lending, while the Postal Savings Bank of China should expand its petty loan business.
Banks will be encouraged to set up branches in rural areas and develop village and town banks. Small-loan companies and trust institutions were also urged to make their contribution. The CBRC also urged to strengthen support of major grain producing areas and help high-tech enterprises with research and development.
The central government issued a top-down central document in February, outlining that the transformation of agricultural development must be accelerated to build a strong and modernized industry.
China feeds more than a fifth of the world’s population on only 10 percent of arable land.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
