The Ministry of Finance makes arrangements to do a good job in establishing the agricultural credit guarantee system
According to news from the Ministry of Finance website on the 11th, in response to the issues reported through consultations from various localities, and in order to further clarify relevant policies and do a good job in establishing the agricultural credit guarantee system, the Department of Agriculture of the Ministry of Finance issued a supplementary notice on further doing a good job in the fiscal support for the establishment of the agricultural credit guarantee system.
According to news from the Ministry of Finance website on the 11th, in response to the issues reported through consultations from various localities, and in order to further clarify relevant policies and do a good job in establishing the agricultural credit guarantee system, the Department of Agriculture of the Ministry of Finance issued a supplementary notice on further doing a good job in the fiscal support for the establishment of the agricultural credit guarantee system.
The notice states that provincial-level agricultural credit guarantee institutions must be established as soon as possible; regardless of the form adopted, agricultural credit guarantee institutions must all be independent market entities; the agricultural credit guarantee system must focus exclusively on agriculture; a risk-sharing mechanism and benefit-sharing mechanism must be established between agricultural credit guarantee institutions and cooperating banks; and supervision and inspection must be strengthened.
In addition, provincial-level finance departments and agriculture departments in all localities must strengthen coordination, promptly carry out the adjustment and improvement of the three agricultural subsidy policies, promptly deliver to farmers the subsidies that should be paid to them, and conduct thorough and detailed publicity and explanation work, so as to win the understanding and support of grassroots officials and farmers and ensure social harmony and stability in rural areas and the smooth alignment of policies.
The notice states that provincial-level agricultural credit guarantee institutions must be established as soon as possible; regardless of the form adopted, agricultural credit guarantee institutions must all be independent market entities; the agricultural credit guarantee system must focus exclusively on agriculture; a risk-sharing mechanism and benefit-sharing mechanism must be established between agricultural credit guarantee institutions and cooperating banks; and supervision and inspection must be strengthened.
In addition, provincial-level finance departments and agriculture departments in all localities must strengthen coordination, promptly carry out the adjustment and improvement of the three agricultural subsidy policies, promptly deliver to farmers the subsidies that should be paid to them, and conduct thorough and detailed publicity and explanation work, so as to win the understanding and support of grassroots officials and farmers and ensure social harmony and stability in rural areas and the smooth alignment of policies.