Working together to solve the difficulties and pain points of rural financial development

Rural revitalization policy dividends frequently occur, and rural financial reform and development have ushered in new important nodes. For financial institutions, strengthening rural revitalization of financial services is not only a realistic need to solve the imbalance between rural financial supply and demand, but also an inherent requirement for the high-quality development of financial services economy.

after years of development, China's rural financial services have made great progress, and large state-owned banks have been sinking their services, which has greatly improved the availability and convenience of rural financial services and provided strong support for the development of rural agriculture. At the same time, we must also see that with the deepening of rural revitalization, the shortcomings of rural financial services have become increasingly prominent. Although some financial innovative products are labeled as "agriculture", they are divorced from the reality of rural industries in design and cannot effectively meet the actual needs.

the mismatch between the financial services provided by commercial banks and the actual supply and demand of agricultural and rural development is increasingly prominent. It is manifested in three aspects:

First, banks pay more attention to deposits than loans in rural areas, and pledge loans are short of credit loans, and the key areas of agriculture, rural areas and farmers lack financial support;

Second, banks issue more small-scale inclusive loans to ordinary farmers, but not enough for small agricultural cooperatives, family farms and other new agricultural business entities;

Third, banks have made their own moves in serving rural revitalization, and the credit supply is relatively scattered, which cannot form a joint force. Some rural infrastructure construction and rural industrial integration development projects that need a lot of financial support have a large funding gap, which is easy to fall into a situation of poor promotion.

rural financial services need to be upgraded urgently. From the policy point of view, this year's No.1 document of the Central Committee listed "strengthening rural revitalization financial services" as an important content for the first time, which put forward higher expectations for the financial industry to increase its support for rural revitalization, which also means that financial assistance to rural revitalization has been mentioned to a new height.

the "first order" for deepening the reform of rural credit cooperatives in China-the pilot implementation plan for deepening the reform of rural credit cooperatives in Zhejiang Province was approved by the State Council, and Zhejiang Rural Commercial Bank was formally established, which was promoted and implemented under this background.

The rural revitalization policy pays dividends frequently, and the rural financial reform and development has also ushered in a new important node. For financial institutions, strengthening rural revitalization of financial services is not only a realistic need to solve the imbalance between rural financial supply and demand, but also an inherent requirement for the high-quality development of financial services economy.

the banking industry should further promote the structural reform of the supply side and be more proactive in optimizing the supply of agriculture-related finance. In April, China Banking and Insurance Regulatory Commission issued the Notice on the Key Work of Promoting Rural Revitalization in an All-round Way with Banking and Insurance Services, which clearly required that the supply system and mechanism of agriculture-related finance should be optimized. Policy banks should strengthen credit support for agricultural industry development and agricultural and rural infrastructure construction in combination with their own functional orientation;

large and medium-sized commercial banks will increase the expansion of first-time borrowers and provide more financial services to customers who have not obtained loans from banks before; Local corporate banking institutions, such as small and medium-sized rural banks, have continuously enhanced their rural revitalization service capabilities and corporate governance, and accelerated the reform of rural credit cooperatives.

Policy banks have natural advantages in supporting rural revitalization. Some agriculture-related projects, such as rural infrastructure construction, ecological environment transformation, agricultural science and technology, require long-term investment, large capital demand, long payback period and low short-term return rate, so it is difficult for traditional financial products of commercial banks to match the financing needs of these projects. Policy finance has both financial and fiscal attributes, and can provide long-term and low-interest credit funds, which can better make up for the shortcomings of commercial banks and avoid the failure of commercial banks in serving rural finance. The Ministry of Agriculture and Rural Affairs, together with the China Development Bank and the Agricultural Development Bank of China, plans to innovate and promote the comprehensive financial service model at the county level, and provide long-term, stable, large-sum and low-cost credit funds for qualified agricultural modernization demonstration areas, which is a useful attempt to give play to policy finance.

Rural revitalization needs more participants. Besides banking financial institutions, more financial institutions should be guided to serve the countryside. For example, securities companies can give full play to their own advantages, support qualified agricultural business entities to directly raise funds through the capital market, cultivate a number of high-quality agricultural listed companies, and promote the realization of agricultural science and technology innovation goals; The products of insurance companies can supplement the shortage of rural credit and enhance farmers' ability to resist agricultural uncertainty, which is a solid backing and powerful guarantee for rural revitalization; Insurance and futures companies can further improve the "insurance+futures" service, explore and promote more featured agricultural products to become futures trading varieties, support agricultural and rural business entities to carry out hedging and risk management through the futures market, and explore the establishment of linkage mechanisms between agricultural insurance and financial derivatives.

in addition, the relevant supervision work needs to be strengthened and coordinated, and the financing mechanism of agriculture-related funds needs to be further smoothed. All parties should use the spirit of time and tide wait for no man, actively crack the difficulties and pain points of rural financial reform and development, and provide more financial assistance for creating a new situation of comprehensively promoting rural revitalization.