China People's Bank Shanghai Headquarters, branches, business management departments, provincial capital city center branches and sub-provincial city center branches; Banking regulatory bureaus, securities regulatory bureaus and insurance regulatory bureaus of all provinces (autonomous regions and municipalities directly under the Central Government); China Development Bank, policy banks, state-owned commercial banks, joint-stock commercial banks and China Postal Savings Bank:
Rural financial services are an important link between the party and the government to connect with rural areas and farmers. In October 28, the People's Bank of China and the China Banking Regulatory Commission organized and carried out pilot projects to accelerate the innovation of rural financial products and services in six central provinces and three northeastern provinces. Over the past year or so, the pilot work has achieved remarkable results. The pilot practice has proved that accelerating the innovation of rural financial products and services is an important starting point for comprehensively improving and upgrading rural financial services and strengthening the adjustment of credit structure. It is also an effective means to alleviate the loan difficulties of rural and farmers, promote the equalization of urban and rural financial services and support the construction of a new socialist countryside under the new situation. In order to implement the spirit of the document of the Third Plenary Session of the Seventeenth Central Committee of the Communist Party of China, the Central Rural Work Conference and the Opinions of the Central Committee of the State Council on Strengthening Urban and Rural Development and Further Consolidating the Foundation of Agricultural and Rural Development (Zhongfa [21] No.1), and to implement the relevant tasks put forward in the 21 Government Work Report to effectively improve rural financial services, the People's Bank of China, the China Banking Regulatory Commission, the China Securities Regulatory Commission and the China Insurance Regulatory Commission decided to promote rural financial services nationwide. The following suggestions are put forward:
First, highlight the innovation focus and strive to meet the financial service needs that meet the actual characteristics of agriculture, rural areas and farmers
(1) Vigorously develop micro-credit loans for farmers and rural microfinance. Encourage and guide financial institutions to focus on expanding rural microfinance through retail, wholesale and other ways, actively develop farmers' micro-credit loans and farmers' joint guarantee loans, encourage the development of diversified micro-credit loan products, strive to meet farmers' diversified credit needs, support migrant workers to return home for employment and entrepreneurship, and college students' "village officials" to start businesses and enrich the people. Actively expand the coverage of farmers' micro-credit loans and farmers' joint guarantee loans, and strive to meet the specialized and market-oriented capital needs of rural commerce, service industry, circulation industry, handicraft industry and construction industry. Focus on studying and solving the financial service needs of rural vulnerable groups, so that more rural low-and middle-income people can enjoy modern financial services.
(2) effectively meet the capital demand for developing modern agriculture and expanding rural consumption. To meet the credit conditions of scientific research, agricultural materials, breeding, processing, warehousing, transportation, marketing and other modern agricultural industrial chain and related rural service loans, to speed up the examination and approval, timely delivery. Broaden the financing channels of powerful and qualified large-scale agricultural industrialization leading enterprises and rural professional cooperative organizations in many ways, and increase support for transnational agriculture-related trade and agricultural investment, overseas production and processing bases and marketing network construction. Actively do a good job in supporting financial services such as "market of thousands of villages and thousands of townships", rural commodity distribution system construction, rural socialized service and rural informatization construction, and provide financing convenience for farmers to expand consumption.
(3) strengthen credit support for agricultural and rural infrastructure construction. Where conditions permit, it is necessary to establish and improve the incentive mechanism for medium and long-term agricultural credit, encourage and guide banking financial institutions, especially policy banks, to innovate agricultural credit management models, improve agricultural credit management systems, effectively increase credit supply, and actively provide diversified financing facilities around key areas such as farmland water conservancy capital construction, comprehensive agricultural development, overall urban and rural development, and agricultural commodity base construction.
(4) explore the mortgage loan business of rural land contractual management right and homestead use right. In areas with a high degree of urbanization and agricultural industrialization, the financial sector should actively support and cooperate with the transfer of rural land contractual management rights and the reform of rural housing land system promoted by local party committees and government organizations, and explore and carry out corresponding mortgage loans on the premise of not changing the nature of land collective ownership, land use and farmers' land contractual rights and interests in accordance with the principle of voluntary compensation according to law, so as to enrich the effective ways and means of increasing the credit of "three rural" loans.
(5) actively promote and do a good job in the reform of collective forest right system and financial services for forestry development. Thoroughly implement the spirit of Guiding Opinions of the People's Bank of China, Ministry of Finance, China Banking Regulatory Commission, China Insurance Regulatory Commission and Forestry Bureau on Doing a Good Job in Financial Services for Collective Forest Tenure System Reform and Forestry Development (Yinfa [29] No.17), on the basis of accelerating the improvement of the supporting system for collective forest tenure reform, comprehensively promote forest tenure mortgage loan business, explore various loan repayment methods, and accelerate the development and research of forest-related credit products. Cultivate a number of forestry brand enterprises and brand products with market competitive advantages (31368, Fund Bar), high industrial relevance and strong driving force, improve the scale management level of forestry industry and promote the development of small and medium-sized forestry enterprises.
(6) accelerate the innovation of rural financial services. Agricultural banking financial institutions should combine local conditions, improve the financial service process, improve the loan marketing model, and promote the diversification and diversification of rural financial services. Actively carry out the process reengineering of farmers' loans, promote the standardization and standardization of farmers' loan business processes, effectively improve the efficiency of examination and approval, and effectively control credit risks. Banking financial institutions are encouraged to adopt the methods of loan officer's village service, financial counselor system and "loan+technology" to vigorously promote the innovation of credit service methods.
second, broaden the scope of financial services, and rationally use diversified financial instruments to manage and disperse risks in the agricultural sector
(vii) effectively expand the scope of mortgage guarantee and strengthen the risk management of agricultural credit. Encourage agriculture-related banking financial institutions to improve the operation process of agriculture-related secured loan business, improve the evaluation, management and disposal system of agriculture-related secured loan property, constantly innovate loan technology based on various information acquisition methods, actively explore the establishment of an effective credit risk decentralized transfer mechanism, and flexibly innovate credit models and expand the scope of loan collateral according to local conditions under the premise of current national laws, clear ownership of property rights and effective risk management and control. Establish and improve the rural credit guarantee mechanism with government support, multi-party participation and market operation, and encourage qualified places to set up agricultural guarantee funds or establish agricultural guarantee companies.
(8) Give full play to the positive role of the inter-bank bond market in effectively dispersing and managing agricultural risks. Support qualified high-quality agriculture-related small and medium-sized enterprises with stable operation, scientific management and promising market to issue short-term financing bills, small and medium-sized enterprise collective bills and other non-financial corporate debt financing tools, and further broaden the direct financing channels to support the development of agriculture, rural areas and farmers. Accelerate the development of high-yield bonds of agricultural high-tech enterprises and guide agricultural enterprises to raise funds through the capital market.
(9) Strengthen the cooperation between agriculture-related credit and agriculture-related insurance, give full play to the function of bank insurance in serving agriculture, countryside and farmers, improve the rural financial service system, and support the sound and rapid development of rural economy. Insurance companies should constantly improve the coverage and penetration of agricultural insurance and actively explore the development of agricultural loan guarantee insurance. Banking financial institutions should take agricultural insurance coverage as a credit element and encourage borrowers to insure loan collateral. Study and expand the scope and variety of agricultural insurance policy pledge. We will continue to explore the development of various forms or combinations of rural credit that involve banks and insurance companies.
(1) encourage agricultural products (61, stock bar) production and operation enterprises to enter the futures market to carry out hedging business, and make full use of the futures trading mechanism to avoid market risks. Promote the futures business institutions to actively carry out agricultural business innovation, and gradually expand the varieties of agricultural products futures trading to serve the rural economic development.
Third, strengthen policy coordination and create a supporting policy environment conducive to rural financial innovation
(11) Comprehensively use a variety of monetary policy tools to broaden the sources of agricultural credit funds. Encourage qualified places to arrange a certain amount of refinancing, which is specially used to support banking financial institutions to carry out innovative business of rural financial products and service methods; Adjust the scale of rediscount appropriately, which is specially used to support banking financial institutions that innovate rural financial products and services to handle the rediscount of commercial bills of agricultural enterprises.
(12) do a good job in payment and settlement in rural areas and improve the service level of payment and settlement in rural areas. Give full play to the leading role of rural credit cooperatives in rural payment and settlement services. Accelerate the construction of payment service infrastructure in rural areas, and gradually expand and extend the radiation scope of payment and clearing network in rural areas. Vigorously promote the payment of non-cash instruments and reduce the use of cash in rural areas. We will continue to strengthen and improve the payment and settlement agency system, and promote the complementary development of urban and rural payment and settlement services.
(XIII) Strengthen the construction of rural credit system and improve the rural financial ecological environment. Actively cooperate with local governments or under the support and guidance of local governments, organize various agricultural financial institutions, and flexibly adopt various forms that the masses like to see and hear to increase the publicity of credit legal system and credit knowledge in rural areas. Promote the construction of farmers' electronic credit files and actively carry out farmers' credit evaluation. Accelerate the construction of credit system for rural small and medium-sized enterprises, and explore the establishment of information collection and credit evaluation mechanisms for rural economic organizations such as farmers' professional cooperatives.
(14) improve and implement market access policies that encourage innovation. Banking financial institutions that have made remarkable achievements in the innovation of rural financial products and service methods are supported to give priority to the establishment of new rural financial institutions such as village banks, cross-regional mergers and acquisitions, and implement a green channel for market access in the adjustment of network layout, and implement a filing system for new businesses with controllable risks. For rural credit cooperatives that have achieved remarkable results in supporting agriculture, have strong risk control capabilities, and promote rural financial products and services with characteristics, they will not be included in the assessment of loan-to-deposit ratio's regulatory indicators, and they will be given priority in restructuring them into rural banking institutions.
(15) give play to the leverage of fiscal funds on financial resources. In conditional pilot areas, local governments are encouraged to establish a risk compensation system for agricultural loans by increasing financial discount funds, increasing capital injection by guarantee companies and re-guarantee companies or setting up risk compensation funds. Establish and improve the assessment system and reward mechanism, and encourage all financial institutions as legal persons and branches of financial institutions in the county to keep new deposits mainly for local use.
fourth, grasp the principle of innovation work to ensure that the innovation of rural financial products and service methods has achieved practical results
(16) to achieve practical results. Rural financial innovation can't be innovative for innovation's sake, and can't be blindly innovative regardless of policy provisions and risks. We should proceed from reality, persist in financial sustainability, make more effective and effective rural financial products and services, and do more practical and good things for rural areas and farmers.
(17) adjust measures to local conditions. Based on the local conditions of provinces, counties, villages and villages, according to the current trend of rural economic and social development and the local financial needs of agriculture, rural areas and farmers, we should actively explore and innovate operable financial products and services, so that agriculture, rural areas and farmers can get more efficient, convenient and affordable financial services and accelerate the transformation of agricultural development mode.
(18) coordination. Rural financial innovation should pay attention to the coordination of fiscal and taxation policies, regulatory policies, monetary policies and the development of rural insurance industry, form a joint force through the combination of multiple policies, further mobilize and stimulate the internal enthusiasm and creativity of financial institutions to participate in rural financial markets, and guide more financial resources to invest in agriculture, rural areas and farmers.
(XIX) The risk is controllable. Adhere to the principle of combining marketization with policy support, take marketization as the guide and policy support as the support, improve and perfect the positive incentive mechanism, rationally disperse financial risks, scientifically guard against legal risks, resolutely control moral risks and effectively prevent and control operational risks while prudently and steadily carrying out financial innovation.
V. Accelerate the exploration and construction of a long-term mechanism to promote the innovation of rural financial products and services
(2) Vigorously develop and cultivate competitive multi-level rural financial markets. Accelerate the implementation of the Agricultural Bank of China (61288) "Agriculture, Rural Areas and Farmers Finance Division", give full play to the positive role of policy banks in supporting the development of agriculture, rural areas and farmers, and continue to promote the deepening reform of rural credit cooperatives. Encourage and guide commercial banks and social funds to invest in the establishment of new rural financial institutions such as village banks, loan companies and rural mutual funds cooperatives, as well as small loan companies. Encourage large state-controlled banks and other financial institutions to take effective measures to start rural financial business, actively participate in rural financial market competition, and guide more credit funds to invest in rural areas. Encourage financial institutions with high R&D design level and strong risk resistance to set up specialized institutions for rural financial product innovation.
(XXI) actively establish and improve the work coordination mechanism to promote the innovation of rural financial products and services. All branches of the People's Bank of China and the dispatched offices of China Banking Regulatory Commission, China Securities Regulatory Commission and China Insurance Regulatory Commission should strengthen cooperation and closely cooperate with the requirements of Opinions of the Industry Supervision and Management Committee of Bank of China (61988) of the People's Bank of China on Accelerating the Innovation of Rural Financial Products and Services (Yinfa [28] No.295), and take the lead in establishing an inter-departmental coordination mechanism to promote innovation. Strengthen cooperation with development and reform, finance, taxation, agriculture and other departments, strive to coordinate the implementation of relevant supporting policies, strengthen policy guidance and innovation management, and ensure the orderly, powerful and effective development of rural financial products and service innovation.
(XXII) Strengthen information communication, monitoring and evaluation of innovation. While finding out the base and laying a solid foundation, we should further strengthen communication, learn from each other, and timely sum up good experiences and practices of exchange and innovation. Strengthen the dynamic information reflection of innovation work, and regularly compile and publish innovative work briefing. Strengthen the evaluation of the credit policy-oriented effect of innovation work, and do a good job in special research and in-depth analysis of rural finance.
(XXIII) Cultivate and train innovative rural financial talents. It is necessary to strengthen the construction of talent teams in agricultural banking financial institutions, strengthen business training and financial legal education, and mobilize the enthusiasm of grassroots innovation. Pay attention to cultivating a team of high-quality talents who have the ability to explore and innovate agriculture-related financial services and are familiar with rural financial markets.
(XXIV) Pay more attention to the publicity and interpretation of policies. It is necessary to intensify the propaganda and explanation of policies, and widely report the working trends, effective experiences and advanced models of rural financial products and service innovation to the society through various news media, so as to create a good public opinion environment for promoting rural financial products and service innovation and make rural financial innovation get more attention and better development.
People's Bank of China
Banking Regulatory Commission
Securities Regulatory Commission
Insurance Regulatory Commission
May 19, 21