The opening ceremony of China Agricultural Industry Development Fund 20 13 was held in Beijing on March 2 1. 201212/kloc-7 February, China agricultural industry development fund (hereinafter referred to as IFAD) was formally established, which was the first national agricultural industry fund in China and was established with the approval of the State Council. The first phase of IFAD is 4 billion yuan, which is jointly funded by the Ministry of Finance, China Cinda, CITIC Group and China Agricultural Development Bank. The four sponsors each contributed 654.38 billion yuan.